112 Park Ave, Milford, DE 19963

Property Details for 112 Park Ave

Year built

1953

Property type

Retail properties & Spaces

Property subtype

Mixed-use properties

Description

This exceptional 5,000 square foot mixed-use commercial building, situated on a nearly quarter-acre lot in Milford, Delaware's central business district, presents a unique investment opportunity. Built in 1953, this two-story structure boasts a spacious layout including a showroom, office space, storage rooms, a large drive-in garage area, a paint booth, and a bathroom. Upstairs, additional storage and a sewing room are available. A separate entrance and electrical service provide flexibility for multiple businesses or leasing opportunities. The building features sixteen-inch ceiling beams, twenty-foot ceilings, and a recently updated flat roof. On-site parking is complemented by additional public parking at a nearby shopping center. The property includes two parcels and enjoys stunning Mispillion River and park views. Currently operating as an auto trim and accessories shop for over 30 years (business, equipment, and inventory not included in the sale, but negotiable separately), this property offers immense potential for diverse uses. Permitted zoning (C2) allows for a wide range of businesses, including but not limited to: flower shop, restaurant, retail, barber shop, craft distillery, microbrewery, tavern, antique shop, laundry, and more. The property benefits from the "Downtown Development District" incentives, including rebates on construction costs, waived building permits and impact fees, and a stay of assessed value. Furthermore, its location within a Federal Opportunity Zone adds significant investment appeal. Milford, a city of over 10,000 residents, offers a vibrant downtown area, riverwalk, parks, and easy access to beaches (30 minutes) and the Delaware Bay. The asking price is $499,000 ($99.80/sq ft).

Location Insight

City

Milford

County

Kent

State

Delaware

Longitude

-75.4269

Latitude

38.9137