Downtown Milford commercial building sold for 52% price increase after one year

A property in downtown Milford, which includes a family performing arts center and an upholster, has sold for $640,000, one year after it sold for $420,000.

The building, located at 150-156 Main St., was sold in a deal finalized on Thursday, according to Worcester District Registry of Deeds records. The building was sold to Valvi Property LLC, an Grafton-based entity managed by Wilson Valdez of Milford and Claudia Vicuna of Grafton.

The property was sold by Alpine Place LLC, a Milford-based entity managed by Fernando Alves, also of Milford. Alpine Place originally purchased the property for $420,000 in a deal finalized in February 2023, according to registry records. 

Current tenants at the site include Sal’s Upholstery and the Milford Performing Arts Center, according to the location’s Google Maps listing. MPAC is a family-orientated arts performance space founded in 1991 offering workshops and private music and arts lessons, according to the organization’s website. 

MPAC occupies two of three units in the building and is a tenant-at-will, while Sal’s has a lease in place, according to a property listing posted on Coldwell Banker Realty’s website, a New Jersey-headquartered realty firm that facilitated the 2023 transaction. 

The person who answered the phone at Sal’s Upholstery on Monday morning didn’t comment on how the sale might impact its lease, if at all. MPAC couldn’t be reached on Monday morning.

The 6,100-square-foot building was given a tax assessment value of $446,000 for fiscal 2024, according to Town of Milford property records.