Current Use by Public Records
- Office Spaces
Property Details for 38 Wellington Rd
- Year built
- 1981
- Lot size
- 4.00 lot acres
- Property type
- Office Spaces
- Property subtype
- Land
Description
Exceptional investment opportunity in Milford, CT, at 38 Wellington Rd, within the Merritt 95 Office Park. This Class A, 39,907 square-foot, two-story office building offers a 7.70% cap rate and a stable income stream from a credit-rated, single tenant—the State of Connecticut Department of Children and Families—under a modified lease with five years remaining until 2029. The property features a modern design with an atrium entry, high-quality tenant improvements, recently upgraded LED lighting and carpeting, and ample parking (5.6 spaces per 1,000 sq ft). Situated on a four-acre lot in the DO10 zoning district, this building benefits from convenient access to I-95, the Milford Metro-North Train Station, and Igor Sikorsky Memorial Airport. The property boasts 100% occupancy, a strong NOI of $477,610, and a price per square foot of $155.36. The asking price is $6,200,000. This is a rare opportunity to acquire a fully occupied, income-generating asset with long-term lease stability and excellent regional accessibility. Lease options are available. Built in 1981, this is a low-maintenance investment with a reliable tenant and a well-maintained office park environment.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tolland
- County
- Greater Bridgeport
- State
- Connecticut
- Longitude
- -72.3548
- Latitude
- 41.896
