Milford, MA Commercial Real Estate for Sale and Lease

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What to Expect

With a population of around 28,000, this Essex County town, which is 40 miles southwest of Boston, is large enough to have reasonably diverse commercial real estate options. From commercial investment properties to businesses for sale to prime industrial, retail and office space, our listings have everything that you need.

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Echoing its long history of prosperity, this city in Worcester County, Massachusetts is once again a booming center of development. With 14.6 square miles of land and a population of 27,999, this area is located 39 miles away from Boston in a region that is powered by both natural resources and inventive reuse. The city is actively seeking investors to transform previously open lots of land into high-use properties.

In addition to Milford Pond, green spaces in this region include Cedar Swamp Pond, Milford Town Park, Louisa Lake, the Walden Woods, Beaver Brook, the Peppercorn Hill Conservation Area, the Craddock Clewes Pond, and the Charles River. The area is bisected by Interstate 495, making it highly accessible to visitors. Route 16, Route 140, and Route 85 cross through the area as well. There is no MBTA Commuter Rail stop within the city limits; the nearest station is the Forge Park/495 Commuter Rail line stop on the Franklin line.

Commercially zoned plots of land have been coming to market frequently. The property at 350 East Main Street has 0.33 acres available in a location that is off Interstate 495. The property has been zoned for a three-story structure of up to 14,500 square feet that could be the site of a mixed-use property encompassing retail, office, or fitness/health purposes. The property is close to several hotels and national retailers. The estimated rent for this property has not been disclosed.

The 12 acre parcel at 393 East Main Street exists on the east side of Interstate 495, and has 2,000 feet of frontage on Interstate 495. Dubbed “Platinum Park,” the site has been zoned for a new four-story structure of up to 150,000 square feet, which could be a hotel, offices, corporate offices, restaurants, and other mixed-use businesses. The sale list price for this property has not been publicly released.

Meanwhile, the 19.44 acre parcel at 30 Birch Street is located off Route 109 near Interstate 495, and is 6.5 miles from the nearest MBTA Commuter Rail line. The rhombus-sized lot has excellent street frontage on two sides, and can be broken up into five separate sites, or used as one single contiguous property. All environmental impact reports have been performed, prepping the land for immediate development. The five lots have been priced individually; lot 1, which has 2.74 acres of which 1.6 are buildable, is on sale for $400,000. Lot 2, which has 2.55 acres of which 1.5 are buildable, is priced at $400,000. Lot 3, which has 3.0 acres of which 1 is buildable, is priced at $2,000,000. Lot 4, which has 2.55 acres of which 1.5 are buildable, is priced at $400,000. Lot 5, which has 8.6 acres of which 6.2 are buildable, is priced at $1,200,000. A package price for all five lots has not been provided.

The 5.82 acre lot at Cedar Street is directly off Interstate 495 along route 85, and is close to Milford Pond. The area is already home to several national retailers and hotels, making it ideal for large-scale development. The parcel has a sale list price of $3,500,000.

Meanwhile, the 0.50 acre parcel at 157 East Main Street is located close to downtown off Route 16, and is currently occupied by a two-story single family home that could be converted into offices or retail, or simply removed for a different project altogether. The commercially zoned property has a sale list price of $400,000. Located in the heart of downtown, the 0.41 acre parcel at 16 Beach Street has been earmarked for potential office space development. The proposal calls for a three story, 4,800 square foot office project. The sale price for this property is $225,000.

Office Space Market

In keeping with the recent wave of expansion in this city, many of the office spaces available for lease are located in multi-story buildings, although some boutique units do occasionally come to market. The property at 91 Water Street has a brick base with a white tile roof and banks of energy-efficient windows in a prominent downtown location off route 140. With 30,000 square feet of available space, this building was completed in 2006 and is suited for medical offices. An onsite parking lot makes it easy for visitors to access the building. The estimated rent for this property has not been released.

Built in 1988, the 3,937 square foot two story clapboard complex at 18 Asylum Street has a unit of 1,666 square feet for sale. Located near downtown off Route 140, this unit includes a reception area, kitchenette, private conference rooms, storage, two full bathrooms and administrative space. The space is suited for a medical or professional practice, and has a sale list price of $220,000, or $132.05 a square foot.

Located in the heart of downtown near Milford Pond, the 14,075 square foot structure at 31 Granite Street features several floors of office space in a charming white clapboard building with steepled roof. Built in 1930, the building has been meticulously refurbished, and features differently sized units available for lease, with a minimum divisible space of 500 square feet.

The elegant entryway of the structure at 169-173 Main Street welcomes visitors into a 20,000 square foot office complex located in the center of downtown within walking distance of numerous other shops and restaurants. Built in 1910, the interiors have been refurbished and feature vibrantly painted rooms with open floor plans, kitchenettes, conference rooms, and private offices within a suite. The spaces for lease within this building range from 1,500 to 5,000 square feet in size. The estimated rent for this space has not been released.

The property at 89 Main Street has a classic feel to it, recalling the Beaux Arts period in architectural history. Built in 1891, this four-story building has ground floor retail and beautiful office suites in the three stories above. Period details, including stone engravings on the exterior, have been preserved, while the interiors have been completely renovated. The office suites feature large rectangular windows that provide natural light onto open working spaces. With 13,000 square feet of total leasable feet, office suites as small as 550 square feet are available. The estimated rent for this property is $1.18 per square foot per month.

The undulating brick and glass exterior of the two story, 110,000 square foot office complex at 425 Fortune Boulevard looks out on an onsite parking lot and exquisitely landscaped grounds. Located off Interstate 495 in a hotbed of development, this complex was built in 1990. The sale price for this property has not been released.

For those seeking a quiet office suite in a richly landscaped setting with an onsite parking lot, the two-story property at 409 Fortune Boulevard offers 22,100 square feet of leasable space on the western side of Interstate 495. A unit in this complex of 2,460 square feet was recently placed on the market for lease. Built in 1984, the estimated rent for this property is $1.17 per square foot per month.

Retail Space Market

The clamor for the development of large retail spaces in this town compliments the current market of low-slung complexes and multi-story buildings close to downtown. The property at 91 Medway Road has a total leasable area of 43,469 square feet, and has just completed a full renovation, featuring new facades. Located at the junction of Route 109 and Interstate 495, the structure, which was built in 1970, is ideally located for high traffic. Suites ranging from 2,000 square feet to 4,400 square feet have recently been placed on the market; different sizes can be arranged depending on tenant needs. Business signage can be displayed directly above the storefront and also on signage viewable from the highway. The estimated rent for this property has not been disclosed.

The L-shaped retail complex at 178 East Main Street is close to downtown and is surrounded by trees in the back and a large parking lot out front. The brick exterior has a covered walkway and space for business signage above. Built in 1964, this structure of 8,254 square feet has differently sized suites available, starting at 900 square feet. The large storefront windows make this property ideal for a variety of retail businesses. The estimated rent for this property is $1.25 a square foot per month.

Built in 1948, the two-story structure at 80 Prospect Street retains its modernist charm in a highly sought location near downtown. Formerly a service station, this property has several large bay doors, a ground floor with enormous storefront windows, and an upper story that can be used for additional retail space or be converted into offices. Placed on a lot of 1.40 acres, this 15,345 square foot building is as adaptable as it is beautiful to behold. The sale list price for this property is $2,500,000.

The property at 13 Spruce Street has a prime central location downtown and a memorable exterior; with a brick archway and storefront windows with detailed upper panes, this building built in 1930 is both historic and eye-catching. With 11,000 square feet of leasable space, this structure has been used for auto repair, although it could be easily converted into other uses depending on the new owner’s needs. The sale list price for this property is $569,900.

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