3 Pearl St Groton, CT 06340
- Commercial real estate
- 10,065 SF
Current Use by Public Records
- Commercial real estate
Property Details for 3 Pearl St
- Year built
- 1843
- Property size
- 10,065 SF
- Property type
- Commercial real estate
Description
This exceptional commercial investment opportunity encompasses four buildings situated on a substantial 0.525-acre lot at 3 and 5 Pearl Street in the heart of Downtown Mystic, Connecticut. The property boasts a total of 10,065 square feet of space, currently configured as a resort-style property with existing NNN leases in place. Extensive recent renovations have incorporated high-end amenities and cost-saving upgrades, both internally and externally, minimizing landlord responsibilities and eliminating any deferred maintenance concerns. This translates to a low-effort, high-reward investment scenario for a discerning buyer. The property's location is unparalleled, just steps from the historic Mystic Drawbridge in a town consistently ranked among the top tourist destinations in the United States. This prime location ensures high occupancy rates and strong rental income potential. The substantial lot size presents a unique opportunity for future redevelopment, making this a truly exceptional investment for those seeking a high-yield property in a vibrant and sought-after location. The asking price for this entire portfolio is $8,400,000. This is a rare chance to acquire a significant piece of Downtown Mystic's commercial landscape.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Groton
- County
- New London
- State
- Connecticut
- Longitude
- -71.9877
- Latitude
- 41.3255
