Quarry Road Business Park | 260-264 Quarry Rd
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Quarry Road Business Park 260-264 Quarry Rd
43,360 SF 100% Leased Flex Building Milford, CT 06460 $11,250,000 ($259/SF) 6.06% Cap Rate
Investment Highlights
- 3.1% YOY rent growth projected over the next 5 years
- Features both loadings docks and drive-in bays
- 3.3 miles to Milford Parkway Connector (to Route 15)
- All tenants feature annual rental escalations of 2.5%-4%
- Highly Desirable Asset Type.
Executive Summary
Quarry Road Business Park consists of two buildings situated on 7.77 acres of land at the corner of Quarry Road and Heenan Drive. The one- story buildings are easily divisible and currently configured for 19 tenants ranging in size from1,600 SF to 9,832 SF. Identical in size and layout, the buildings mirror one another with the loading access in between. The property features 20 loading docks and 18 drive-in doors. Quarry Road Business Park is in a prime location suitable for a variety of light industrial, office, and flex uses. Quarry Road Business Park tenants benefit from easy access to highways, railways, and airports. The property is 0.7 miles to I-95, 3.2 miles to the Milford Parkway Connector to the Wilbur Cross Parkway / Merritt Parkway, 3.1 miles to the Milford Metro-North Train Station, 11.5 miles to Tweed New Haven Airport, and 11.7 miles to Sikorsky Memorial Airport in Stratford. Quarry Road Business Park offers investors the opportunity to acquire a highly desirable asset type with stable cash-flow and the opportunity to add value in the near term. Existing tenant leases feature annual increases, while in-place rents are well below market. A new owner will have the opportunity to renew or release space closer to market rents while benefitting from an extremely tight flex space market.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $11,250,000 | Rentable Building Area | 43,360 SF |
| Price Per SF | $259 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1988 |
| Cap Rate | 6.06% | Parking Ratio | 3.16/1,000 SF |
| Property Type | Flex | Clear Ceiling Height | 15 FT |
| Property Subtype | Light Manufacturing | No. Dock-High Doors/Loading | 18 |
| Building Class | B | No. Drive In / Grade-Level Doors | 2 |
| Lot Size | 6.88 AC | Cross Streets | Research Dr |
| Price | $11,250,000 |
| Price Per SF | $259 |
| Sale Type | Investment |
| Cap Rate | 6.06% |
| Property Type | Flex |
| Property Subtype | Light Manufacturing |
| Building Class | B |
| Lot Size | 6.88 AC |
| Rentable Building Area | 43,360 SF |
| No. Stories | 1 |
| Year Built | 1988 |
| Parking Ratio | 3.16/1,000 SF |
| Clear Ceiling Height | 15 FT |
| No. Dock-High Doors/Loading | 18 |
| No. Drive In / Grade-Level Doors | 2 |
| Cross Streets | Research Dr |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,877,030 (2024) | |
| Land Assessment | $1,571,170 (2024) | Total Assessment | $4,448,200 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,571,170 (2024)
Improvements Assessment
$2,877,030 (2024)
Total Assessment
$4,448,200 (2024)
zoning
| Zoning Code | ID (Industrial) |
| ID (Industrial) |
Contacts
-
Edward Jordan -
Bradley Balletto -
Chris Bierezowiec -
Northeast Private Client Group
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Quarry Road Business Park | 260-264 Quarry Rd
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