This paper addresses the problem of optimally designing molecular prod
ucts. A systematic analysis framework is presented for transforming a
class of optimal computer-aided molecular design problems with nonline
ar structure-property functionalities into equivalent mixed-integer li
near (MILP) problems. While, in general, it is not possible to solve t
he original problem formulation for the best molecular design with mat
hematical certainty, the equivalent (MILP) reformulation can be solved
efficiently with existing solvers and identify not only the best, but
also the second, third, etc., best molecular designs. Two alternative
design objectives are considered: (i) minimization of the scaled devi
ation of design properties from some target values, property matching,
and (ii) minimization/maximization of a single property subject to lo
wer and upper bounds on the rest of the properties, property optimizat
ion. The framework is applied to the design of polymers where thermoph
ysical and mechanical properties are estimated using group contributio
n methods; Three case studies, including comparisons with existing, me
thods, illustrate the computational efficiency and feasibility of the
proposed methodology.