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296 Mitchell Street Photo 1
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296 Mitchell Street

Groton, CT 06340

  • $575,000
  • 3/1 Baths
  • 5,355 Sqft
  • 0.42 Acres
  • 1947 Built
  • $107 Price/Sqft

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.

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Property Highlights
  • NEIGHBORHOOD : Groton City
  • DAYS ON MARKET : 66
  • MLS : 24189342

Additional Information

ADDITIONAL INFORMATION
  • ACRES: 0.42
  • AREA TYPE: Urban, Other
  • GARAGE: Paved, Off Street Parking, Driveway
  • IS OCCUPIED?: Owner
  • LIVING AREA SQFT: 5,355
  • NEIGHBORHOOD: Groton City
  • PRESENT USE: Mixed Use
  • PROPERTY TAX: $62,318
  • ROAD FRONTAGE DESCRIPTION: Municipal Street
  • SEWER: Public Sewer Connected
  • TAX AMOUNT: $62,318
  • UNIT COUNT: 3
  • UTILITIES AVAILABLE: Electric, Electric Available, Cable, Underground Required
  • YEAR BUILT: 1947
  • ZONING: FC
INTERIOR FEATURES
  • AIR CONDITIONING: Central Air, Split System, Wall Unit
  • COOLING: Central Air, Split System, Wall Unit
  • FULL BATHS: 3
  • FURNACE TYPE: Electric, Oil
  • HALF BATHS: 1
  • HEAT: Electric, Oil
  • HEAT FUEL: Electric, Oil
  • LIVING SQFT SOURCE: Owner
  • STORIES: 3
  • TOTAL BATHS: 4
EXTERIOR FEATURES
  • ROOF: Asphalt Shingle

Listing Courtesy of MJ Derisio (860.304.8020) of William Pitt Sotheby's Int'l (860.434.2400).

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Location for 296 Mitchell Street, Groton, CT

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Groton

Shoreline, Connecticut

The town of Groton, on the lovely Thames River in New London County, once belonged to the neighboring city of New London until they parted ways in 1705. Today, Groton boasts several communities including...

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