344 Mitchell St Groton, CT 06340-4423
- Retail space
- 5,456 SF
- 0.84 lot acres
Current Use by Public Records
- Pizza Today / Pizza Restaurant / Greek Restaurant
- Pizzarama To-Go / Pizza Restaurant
Property Details for 344 Mitchell St
- Year built
- 1952
- Lot size
- 0.84 lot acres
- Property size
- 5,456 SF
- Zone code
- FC
- Property type
- Retail space
- APN
- GROT M:168807582159
- APU
- GROTM168807582159
Description
This exceptional 800-square-foot commercial space is ideally situated at the bustling Five Corners intersection in Groton, Connecticut, offering unparalleled visibility and accessibility. Located at 344 Mitchell St, zip code 06340, this single-tenant unit is part of a larger 2,728-square-foot building, recently renovated in 2023. The space is zoned FC (Five Corners) Commercial and benefits from its prime location within the City of Groton, Electric Boat, and Five Corners submarket. This end-cap unit provides excellent street frontage and high foot traffic, making it perfect for a variety of businesses. The property boasts convenient access to the Electric Boat facility and is surrounded by thriving businesses, including Twisted Misty's (Smoothies), Hao's Barbershop, and Pizza Today Restaurant. An additional lower level space is available for lease, offering the potential for expansion. This lower level includes a walk-in cooler and kitchen prep area, ideal for food-related businesses or those requiring additional storage. This is a rare opportunity to secure a highly visible and well-located commercial space in a thriving area. The property is ready for immediate occupancy.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $415,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $400,000
- 6.5%
- $455,000
- 7%
- $405,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $450,000
- Geo Method
- $505,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $365,000
- Retail
- $450,000
- Mixed-Use
- $340,000
- Hospitality
- $375,000
- Educational
- $440,000
- Residential Income
- $365,000
- Energy
- $420,000
- Income-Based Land
- $355,000
- Food Service
- $390,000
Location Insight
- Map
- Local Demand
- City
- Groton
- County
- New London
- State
- Connecticut
- Longitude
- -72.0753
- Latitude
- 41.3479
- CBSA code
- 35980
- CBSA name
- NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA
