1777 Boston Post Rd Milford, CT 06460-2778

Property Details for 1777 Boston Post Rd

Year built

1993

Construction

STEEL FRAME

Lot size

4.72 lot acres

Property size

44,432 SF

Zone code

CDD5

Property type

Showrooms

APN

MILF M:109 B:805 L:9-B

APU

MILFM109B805L9B

Description

This exceptional investment opportunity presents a 43,148 square foot Hobby Lobby storefront in Milford, Connecticut, on a 4.72-acre lot. The property boasts a strong 7.50% cap rate and a substantial net operating income (NOI) of $243,552. The current lease with Hobby Lobby, a national leader in arts and crafts, extends until October 31, 2033, with options for renewal. Situated on the high-traffic Boston Post Road (US 1), experiencing over 21,000 vehicles per day, this location benefits from exceptional visibility and accessibility. The property is strategically positioned near the Connecticut Post Mall, the state's largest mall, and Milford Crossing, a significant shopping center. The surrounding area features a dense concentration of national retailers, further enhancing the property's value and appeal. With an average household income exceeding $114,000 within a one-mile radius, the demographics are exceptionally strong. The property was built in 2014 and offers potential for long-term ground lease control, extending beyond the current lease expiration. This is a rare opportunity to acquire a high-performing retail asset with a financially stable tenant in a prime location. The asking price is $3,247,360, representing a price per square foot of $75.26. Detailed lease information is available upon request.

Location Insight

City

Milford

County

New Haven

State

Connecticut

Longitude

-73.0207

Latitude

41.2499

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments