Mixed-use Milford property with retail vacancies sells for $8.5M

A mixed-use property in Milford has sold for more than $8 million.

The residential and retail building at 670-680 Boston Post Road was sold by MSC 2003 IQ4 670 Milford Realty LLC, an affiliate of New Jersey-based Boston Road Ventures, for $8.5 million to Greenwich-based Redwood Capital Real Estate LLC. 

The 70,500-square-foot site, built in 2000, features 10 first-floor commercial suites and 32 apartments. 

The commercial space totals 27,000 square feet and is roughly 50% leased to a mix of tenants, including a salon, real estate agency and physical therapy office, according to Managing Director Brad Balletto of Shelton-based Northeast Private Client Group, who brokered the deal along with Jeff Wright and Rich Edwards.

The second and third floors have 32 two-bedroom, two-story townhouse-style apartments, each with in-unit laundry and central air, all of which are occupied, Balletto said.

He said the new owners are active in the Connecticut market with other properties in Greenwich and Milford.