Historic Waterfront Firehouse - Adaptive Reuse Opportunity

11 Church Avenue Milford, DE 19963

11 Church Avenue, Milford, DE, 19963
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FOR SALE
Property Type:
Multi Tenant Office
Amount:
$1,000,000
Last Verified:
Aug 19, 2021

Highlights

  • Apartment redevelopment opportunity - Waterfront
  • Unique opportunity - Adaptive reuse of a historic waterfront firehouse
  • Ample grants & tax credits available ($100's K)
  • Apartment demand is high
  • Short distance to Delaware beach market

Description

Multifamily development opportunity! Multifamily is the hottest product in the market right now so here is the chance to become part of it.​ Exciting opportunity to develop a former historic firehouse into much-needed inventory of apartments, or into a mixed-use project with office or retail on the first-floor apartments above.​ The exterior has been well preserved as seen in the photos.​ The building is located in the downtown core of Milford, DE just north of the rapidly expanding Delaware beach market, and is also alongside the Mispillion River.​ The building's interior is in a shell condition with vaulted ceilings in a portion of it.​ The adjacent property is also available (10 Church St) so the sites could be developed together as part of the same project with two distinctly different looks.​


This is within the Federal Opportunity Zone and also qualifies for several other programs including the historic district credits, National Historic Preservation, and the City of Milford Downtown Development District grants & credits.​ Grants and credits, not including the opportunity zone benefits, could total hundreds of thousands of dollars.​ Potential density is for first floor retail/office and 14 apartments above, or no mixed-use and 14 larger sized apartments.​

Located in the Downtown Core of the city of Milford, DE.


Year Built: 1924
Building Size: 17870sq ft
Building Class: A
Lot Size: 0 acres

Map of 11 Church Avenue, Milford, DE, 19963

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