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Milford,DE 19963
Key Details
Sold Price $700,00030.0%
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID DEKT2001160
Sold Date
HOA Y/N N
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $4,039
Tax Year 2022
Lot Size 2.620 Acres
Acres 2.62
Lot Dimensions 1.40 x 0.00
Property Sub-Type Mixed Use
Property Description
Waterfront Apartment land!! Waterfront on 3-sides!! This is an opportunity to help meet the high demand for new apartments within Sussex & Kent County. This property has a total of 3 +/- acres with the Mispillion River going right through it, and is situated in downtown Milford, DE adjacent to the Sussex County limits. There is the potential for 50+/- residential units with a commercial component as well. Recent apartment projects have been fully leased very quickly showing the demand in the market in this rapidly growing region.
Several incentives are available to help fulfill the residential demand for the market to include the Federal Opportunity Zone as well as downtown development district grants.
Multifamily development
Incentives: Federal Opportunity Zone & downtown development grants, credits, etc
High demand market
Waterfront on 3-sides
Location
State DE
County Kent
Area Milford (30805)
Zoning C2
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 103.0
Water Access Y
Accessibility 2+ Access Exits
Total Parking Spaces 103
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Milford
Others
Tax ID MD-16-18310-01-7900-000
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard