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54 Naugatuck Ave 4,720 SF 100% Leased Retail Building Milford, CT 06460 $1,200,000 ($254.24/SF) 4.36% Cap Rate
Executive Summary
Discover a rare and versatile investment in the heart of Milford's premier live-work-play coastal community, Walnut Beach. This meticulously maintained property features a newly renovated ground-floor restaurant secured by a stable, long-term lease. Above, you'll find four oversized studio/one-bedroom apartments that offer significant upside potential in a high-demand rental market. Efficiency is built-in with separate gas and electric utilities for every unit, keeping overhead low and management simple. The location is truly unbeatable-just steps from the sandy shores of Walnut Beach, local boutique shops, and a vibrant culinary scene. Tenants will fall in love with the "endless summer" vibe, defined by seasonal festivals, live music, and a thriving arts district. With the Milford Metro-North Station only seven minutes away, this property perfectly captures the balance of vacation-style living and easy commuter access to New Haven and New York City.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$80,175
|
$16.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$80,175
|
$16.99
|
| Taxes |
$6,956
|
$1.47
|
| Operating Expenses |
$20,939
|
$4.44
|
| Total Expenses |
$27,895
|
$5.91
|
| Net Operating Income |
$52,280
|
$11.08
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $80,175 |
| Annual Per SF | $16.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $80,175 |
| Annual Per SF | $16.99 |
| Taxes | |
|---|---|
| Annual | $6,956 |
| Annual Per SF | $1.47 |
| Operating Expenses | |
|---|---|
| Annual | $20,939 |
| Annual Per SF | $4.44 |
| Total Expenses | |
|---|---|
| Annual | $27,895 |
| Annual Per SF | $5.91 |
| Net Operating Income | |
|---|---|
| Annual | $52,280 |
| Annual Per SF | $11.08 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,720 SF
Building Class
C
Year Built
1985
Price
$1,200,000
Price Per SF
$254.24
Cap Rate
4.36%
NOI
$52,280
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.08
Lot Size
0.10 AC
Zoning
CDD2
Frontage
36’ on Naugatuck Avenue
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Nautilus Restaurant
- Accommodation and Food Services
- 2,344 SF
- $12.16
- Modified Gross
- May 2027
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Nautilus Restaurant | Accommodation and Food Services | 2,344 SF | $12.16 | Modified Gross | May 2027 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | MILF-000016-000148-000009 | Total Assessment | $372,350 |
| Land Assessment | $153,560 | Annual Taxes | $6,956 ($1.47/SF) |
| Improvements Assessment | $218,790 | Tax Year | 2025 |
Property Taxes
Parcel Number
MILF-000016-000148-000009
Land Assessment
$153,560
Improvements Assessment
$218,790
Total Assessment
$372,350
Annual Taxes
$6,956 ($1.47/SF)
Tax Year
2025
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54 Naugatuck Ave
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