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881 Boston Post Road, Milford, CT 06460

Commercial Property with Income Stream from Tesla in High Traffic Retail Corridor for Sale at $7,100,000

881 Boston Post Road, Milford, CT

881 Boston Post Road in Milford, CT, presents a unique opportunity to acquire a commercial building in a high-traffic retail corridor with 47,867 SF of warehouse space available and a projected 2021 income of $395,854 with scheduled rent increases from Tesla Inc. (NASDAQ: TSLA), a Fortune 100 Company. Tesla leases a portion of the property and is responsible for 60% of real estate taxes and 100% of separately metered utilities, water, sewer, and insurance.

With 332 linear feet of frontage on Route 1 (Boston Post Road), this two-story 70,001 SF commercial building on 3.24 acres has excellent visibility, prominent street signage, and abundant parking with a total of 246 spaces. The building features heavy power, a wet sprinkler system, and a security alarm system. The available warehouse space spans two levels and features four interior loading docks (one with a leveler), five drive-in doors, a 12’-18’ ceiling height, a freight elevator (needs 200 amp electrical hook up), two restrooms, and 121 parking spaces. The 22,134 RSF space occupied by Tesla features central air conditioning, five drive-in doors, five restrooms, and 125 parking spaces.

The property is in a prime commuter location with easy access to I-95, Exits 37 & 39A, and the Milford Parkway Connector to the Merritt Parkway. It is one mile from the Milford Metro-North Train Station and 0.3 miles to a Greater Bridgeport Transit Bus Stop at Cherry Street and Locust Street. The property is near shopping, restaurants, and banks.

Financial Information
Sale Price: $7,100,000
Projected 2021 Income: $395,854 NNN
Real Estate Taxes: $67,442 - Tesla pays 60% ($40,828)
CAM Charges Paid By Tesla: $14,065
Property Details
Gross Building Area: 70,001 SF
Total Space Available: 47,867 SF
Land: 3.24 Acres
Zoning: Corridor Design Development District - Community Design (CDD1)
Year Built: 1972
Construction: Stucco/Masonry
Stories: Two
Tenancy: Multiple
Traffic Count: 20,031 Average Daily Volume
Parking: 246 Surface Spaces
Loading: 10 Drive-In Doors, 4 Interior Loading Docks (One with Leveler)
Ceiling Height: 12'-18' Warehouse
Amenities: Wet Sprinkler System, Security Alarm System, Freight Elevator (needs 200 amp electrical hook up), 7 Restrooms, Prominent Signage
Water/Sewer: City/City
Heating: Gas
A/C: Partial Central Air-Conditioning
Power: 220 Amps, 480 Volts, Three-Phase
Three Mile Demographics
Population: 47,938
Median HH Income: $96,718
Five Mile Demographics
Population: 113,413
Median HH Income: $93,959
Updated: 21st October 2021
Jon Angel, President
203.335.6600, Ext. 21
No warranty or representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors,
omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.