188 Cherry Street is a newly constructed, mixed-use investment property located at 188 Cherry Street in Milford, Connecticut. Completed in 2021, the property is situated on 0.67 acres and features durable brick/masonry and wood frame construction. The development includes 18 modern studio apartments totaling 8,380 square feet of residential rentable area, along with 3,021 square feet of office space and 1,737 square feet of warehouse space. Ample surface parking with 34 spaces further enhances convenience for residents and commercial tenants alike. The residential units at 188 Cherry Street are thoughtfully designed with high-end features that appeal to today’s renters. Each apartment is equipped with quartz countertops, stainless steel appliances, in-unit washer/dryers, and elevator access, offering a blend of style, functionality, and convenience. With contemporary design, upgraded finishes, and modern floor plans, 188 Cherry Street provides one of the most attractive residential offerings in the Milford rental market. Importantly, current average studio rents of $1,951 per month remain below comparable Class A properties in Milford, where average rents range from $2,100–$2,300. This makes 188 Cherry Street one of the most affordable luxury options in the market, creating significant upside potential as units roll to market. Commercial tenancy at 188 Cherry Street provides investors with both long-term stability and embedded upside. Zurita Insurance & Financial Services anchors the office component under lease through 2032 at $23.24 per square foot, offering secure cash flow with more than seven years of remaining term. Comparable office and retail spaces in Milford are currently achieving closer to $30 per square foot, positioning Zurita’s space for future mark-to-market growth. Smith Construction, is leased through 2031 at $12 per square foot, a fair market rate, but there may be the opportunity to convert that space to office if they were to vacate. Beyond rent growth, the property offers additional value through expense efficiencies. While 188 Cherry Street is newly built and runs efficiently by design, the current owner operates at near-institutional scale, resulting in higher administrative costs, vendor contracts, and overhead that will not be incurred by a typical private owner. This structural shift in expenses presents a meaningful opportunity for enhanced net operating income. Taken together, 188 Cherry Street presents three distinct avenues for value creation: (1) residential rent growth, (2) commercial rent mark-to-market and expansion potential, and (3) reduced expense load through more efficient management. Combined with a prime location in Milford — consistently highlighted as one of the most desirable coastal towns in the greater New York City metro area — 188 Cherry Street represents a rare, high-quality mixed-use investment opportunity.