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.