296 Mitchell Street
Groton, Connecticut

Description:

Unlock significant investment potential in highly desirable Five Corners District of Groton City. This versatile .42-acre mixed-use property presents an exceptional opportunity for investors seeking to capitalize on regional growth. The main building offers 5,355 total sq ft: ~3,480 sq ft is finished space that houses a professional office suite and two residential apartments, each with private entrances. There is a 1-bedroom apartment on the first floor, and a 2nd floor 3-beroom. The rest of the main building is an annex with two large storage or workshop spaces. In the rear, is a recently improved detached garage with an upper-story loft. Capital improvements include a new garage roof installed in the fall; energy-efficient mechanical upgrades - a new boiler, hot water tanks, and a new oil tank. The garage is leased separately. Ample parking is available, providing the flexibility to augment current and future business or residential needs. The property is serviced by public water and sewer and benefits from favorable zoning within this special district. This location is uniquely positioned to serve the surging demand for housing and parking created by regional job growth at Electric Boat (General Dynamics). Pfizer, Yale-affiliated medical systems, and local colleges are also nearby. This offering combines historical value with immense untapped ROI potential. Bring your vision to this rare, well-located asset.

Listing Courtesy of William Pitt Sotheby's Int'l