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BILLBOARD Route 1

MILFORD, DE 19963
  • $450,000
  • STATUS: Active
  • ON SITE: 279 Days
  • ID#: DEKT245718
UPDATED: 44 min ago
$450,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

School District:

Description

Great income producing billboard at the highly desirable intersection of Route 1 & Route 113 in Milford. Long term lease to Clear Channel Outdoor, currently in the 6th year of a 10 year lease, and tenant has been a 30+ year tenant. Ownership transfer will be a perpetual easement. Price is based on 7% return for the projected 2022 income. Buyer must cooperate with Seller's 1031 exchange.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Barrows and Associates | Ocean Atlantic Sotheby's International Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-20T18:51:26.133.
www.barrowsandassociates.com/homes/113229110
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BILLBOARD Route 1 MILFORD, DE 19963

  • Price: $450,000
  • Status: Active
  • Updated: 44 min ago
  • ID#: DEKT245718
0
Beds
0
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Milford (30805)
County:
Kent
Area:
Milford (30805)
School District:
Milford
Property Description
Great income producing billboard at the highly desirable intersection of Route 1 & Route 113 in Milford. Long term lease to Clear Channel Outdoor, currently in the 6th year of a 10 year lease, and tenant has been a 30+ year tenant. Ownership transfer will be a perpetual easement. Price is based on 7% return for the projected 2022 income. Buyer must cooperate with Seller's 1031 exchange.
Exterior Features

Construction Materials Other Garage YN No Location Type Highway Parking Types None Riparian Rights YN No View CityStreetOther Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 800.00 Cooling None Heating None Net Square Feet 800.00

Property Features

Accessibility Features None Annual Gross Expense 0.00 Association Expense 0.00 Association YN No Business Type Other Central Air YN No Cooling Fuel None Cross Street Route 113 Electric Expense 0.00 Gross Income 33500.00 Heating Fuel None Historic YN No Hot Water None Insurance Expense 0.00 Lease Considered YN No Maintenance Expense 0.00 Navigable Water YN N Net Operating Income 33500.00 New Construction YN No Operating Expense 0.00 Original MLSNumber 304444784607 Other Expense 0.00 Ownership Interest Fee Simple Possession Immediate Property Sub Type Special Purpose Sale Type Standard Sewer No Septic System Tax Annual Amount 0.00 Tax Assessment Amount 0.00 Total Actual Rent 33500.00 Trash Expense 0.00 Vacation Rental YN No Water Source None Zoning Commercial Zoning Description Town Codes

Listing courtesy of Masten Realty Llc.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Barrows and Associates | Ocean Atlantic Sotheby's International Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-20T18:51:26.133.
 
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Barrows and Associates | Ocean Atlantic Sotheby's International Realty
18949 Coastal Highway Suite 304
Rehoboth Beach DE, 19971