Property profile

344 Mitchell St Groton, CT 06340

OFF-MARKET
Retail space
Property ID
US15-0065781
5,456 SF 0.84 ac lot Built 1952
Entity Owned 2-yr Hold Free & Clear
Saved · see the list in your Dashboard

Property summary

AI-generated overview

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.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1952
Total area 5,456 SF
Lot 0.84 ac (36,590 SF)
Zoning code FC
APN GROT M:168807582159
UPID US15-0065781

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Restaurant

Location

344 Mitchell St Groton, CT 06340-4423
Groton metro Census 702400 NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$420k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$415k

Owner & transaction history

since 2023
Last sale
$475,000
6 recorded transactions
2024
Price N/A
2023
$475,000
2019
Price N/A
2019
Price N/A
2010
$390,000
1993
$114,500

Zoning & alternative use

FC · Groton, CT
General category UNKNOWN

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 344 Mitchell St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message