Historical Office Sale Listing - Yale University Medical Building

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Yale University Medical Building

48 Wellington Road, Milford, CT 06461

N/A

10,444 SF | Office

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Subject Property

Office Property - Off Market

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

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

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.

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

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Created 8/6/2013