Cherry Street Portfolio FOR SALE


Milford, CT - Downtown Milford
$6,200,000 USD
203-464-4620
, Milford, CT for Sale
$6,200,000 USD
FOR SALE
1/4
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Cherry Street Portfolio
Milford, CT
Downtown Milford


HIGHLIGHTS

  • Strong residential and medical demand in a supply-constrained market
  • Diversified mixed-use income stream with residential cash flow providing downside protection, inflation hedging, and demand resilience.
  • Long-term 20+/- year Proven medical tenancy with over two decades of continuous operations, supported by a deep, recurring patient base.
  • Residential rents approximately 18% below market creating clear mark-to-market upside at rollover.
  • Highly visible, well-located asset with convenient access, strong frontage, and ample on-site parking—critical for medical and residential users
  • Asking Price will create an attractive basis below replacement cost, offering a meaningful margin of safety

OVERVIEW

Fund Mandated Sale. Metro 202–204 Cherry is a premier 23,142-square-foot mixed-use property featuring two well-maintained buildings that combine medical office and multifamily residential space in a highly desirable location. The property benefits from a long-standing medical tenancy providing stable, predictable income, complemented by a diversified residential component offering strong rent growth potential. Situated within a supply constrained residential market, the asset provides investors with a rare opportunity to acquire a proven, income-generating property with value-add and inflation-protected upside through rent optimization and continued strong, recession proof, demand for housing and medical services in the Milford metro market. Metro 202–204 Cherry is a premier 23,142-square-foot mixed-use property consisting of two well maintained buildings that combine medical office and multifamily residential space in a highly desirable location. The first building, totaling 11,279 square feet, is occupied by a single NN tenant medical group that has operated at the property for over 20 years with a booming irreplaceable customer base, providing exceptional income stability and long-term tenancy. The second building, encompassing 11,863 square feet, built in 1999 includes approximately 1,700 square feet of fully leased professional office space and 14 one-bedroom apartment units. The Apartment units are a generous 900 SQFT One Bedroom 1 Bathroom with hardwood floors, oven, stove, dishwasher, microwave, in-unit laundry, A/C, and on-site parking.

ASK ABOUT THIS PROPERTY

Frank MicaliCapitalize 360 Group LLCMore Info
203-464-4620

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Frank MicaliCapitalize 360 Group LLCMore Info
203-464-4620

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.