This property is Off-Market

48 Wellington Road
Milford, CT 06461 ·

10,444 SF · Office For Sale

N/A

Print

Yale University Medical Building

Price N/A Cap Rate 6%
Building Size 10,444 SF Building Class A
Property Type Office Tenancy Single
Property Sub-type Medical Office Year Built 2013
Property Use Type Net Lease Investment with 10+ years left on lease
Listing ID: 18299325 Date Created: 08/06/2013 Last Updated: 09/25/2014

Description

The asset is a medical office building in the highly affluent area Milford, Connecticut. There is an orthopedic diagnostic clinic for Yale.

Milford is a coastal city in southwestern New Haven County, Connecticut. Dating back to 1639, it is the sixth oldest town in Connecticut, and has a population of over 50,000.

Known as A Small City with a Big Heart, Milford offers that small town feeling coupled with the charm the and sense of history of an early English settlement. Seventeen miles of Long Island Sound coastline funnels into the harbor that winds its way to meet the Wepawaug River in the heart of town. Milford offers a variety of cultural, recreational, and educational opportunities, including high quality arts and crafts shows, varied festivals, water recreation, and a strong retail community.

Highlights

  • Yale was ranked as one of the Top 5 Universities by US News
  • Building is being fully gutted and built out for Yale, under its specifications, at a cost of approximately $1.1M (about $110/ sq. ft.)
  • Yale endowment fund totaled $19.3 billion as of June 20, 2012
  • Average household incomes of $118,886 within a 1-mile radius
  • Milford is located just 60 miles from Manhattan
  • Renovation is scheduled to be complete (and rent to commence) approximately 10/1/2013

Research

48 Wellington Road, Milford, CT 06461 (New Haven County)

Milford Market Trends - Asking price index trends, sale price trends, asking rent trends

Similar Listings

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.

I am a place holder, please don't judge me!!! (no, I judge you!)