For more information or a personal tour call John & Mary now at 302-740-5872
Listing IDDEKT2014232
Price$1,075,000
SqFt
8,715
Acres
0.290
StatusACTIVE
CountyKent
Year Built1811
Property TypeCommercial Sale
Property Sub TypeFive Or More Units
A great opportunity to own a historic commercial investment property in downtown Milford. The Governor Tharp building underwent a full renovation completed in 2007. This three story building currently host seven apartments and one commercial retail space all of which are currently occupied with long term tenants. In the rear of the building you will find a freshly paved asphalt parking lot with 15 spaces. This income producing property would be a nice addition to investors looking to expand their portfolio.
County
Kent
Price/SqFt
123.35
Property Sub Type
Five Or More Units
Property Type
Commercial Sale
Year Built
1811
Zoning
C2
Building Total SqFt Source
Assessor
Central Air
yes
Cooling Type
Central A/C
Heating
yes
Heating Type
Heat Pump(s)
Building Units Total
8
Car Parking Spaces
15
Construction Materials
Block, Brick, Brick Veneer, Stick Built
Cooling Fuel
Electric
Fencing
Y
Foundation Details
Block
Heating Fuel
Electric
Hot Water
Electric
Lot Dimensions Source
Assessor
Lot Size Dimensions
71.00 x 175.00
Lot Size Source
Assessor
Lot Size Units
Square Feet
New Construction
no
Parking Features
Paved Parking
Road Surface Type
Black Top
Sewer Septic
Public Sewer
Tidal Water
no
Total Garage and Parking Spaces
15
Type of Parking
Parking Lot
Water Access
no
Water Oriented
no
Water Source
Public
Water View
no
Country
US
In City Limits
yes
Location Type
Downtown
MLS Area
Milford (30805)
Views
Street
Waterfront
no
Accessibility Features
Other
Business Type
Apartment Building, Other/General Retail
Days on Market
116
Historic
yes
Municipal Trash
yes
Potential Tenancy
Multiple
Property Manager
N
Property Use
Investment
Year Assessed
2023
Year Built Source
Assessor
Association Recreation Fee
N
Automatically Update Tax Values
yes
Cap Rate
7.25
Gross Income
89622.5
Gross Scheduled Income
94200
Income Includes
Apartment Rentals, Shop Rentals
Net Operating Income
82617
Net SqFt
8000
Operating Expense
11583
Ownership Interest
Fee Simple
Possession
Negotiable
Riparian Rights
no
Sale Type
Standard
Tax Annual Amount
2098
Tax Assessed Value
95600
Tax Data Updated
no
Tax Lot
7600-000
Tax Opportunity Zone
Y
Tax Year
2023
Total Actual Rent
94200
Vacancy Allowance Rate
5
Vacation Rental
no
Listing courtesy of The Parker Group (302) 217-6692
© 2024 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of The Parker Group. Data last updated on Friday, March 29th, 2024 12:19:32 AM.
© 2024 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of The Parker Group. Data last updated on Friday, March 29th, 2024 12:19:32 AM.
Contact - Listing ID DEKT2014232
John Luca
88 Lantana Dr.
Hockessin, DE 19707
Phone: 3029996966
Phone Alt: 3027405872
Data services provided by IDX Broker