Office / Retail Building at busy 'Five Corners' For Sale

Office for Sale
Catylist Listing ID: 30214573
Property Subtypes: Medical, Mixed Use, Office Building
Building Size (RSF): 20,102 SF
Gross Land Area: 1.21 Acres
Sale Price: $1,200,000
Unit Price: $59.70 PSF
Property Use Type: Vacant/Owner-User
Class of Space: Class B
Usable Size (USF): 20,102 SF
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/20/2019

Overview / Comments

20,102sf two story Office/Retail space at Groton's busy "5 Corners" intersection. Includes 4 parcels totaling 1.21 acres. Located in City of Groton the zone is GC-General Commercial. Town Water and Sewer. 70+/- parking spaces. 172' road frontage on Mitchell St. and 218' road frontage on Poquonnock Rd. This corner is within walking distance of Electric Boat. First floor is handicap accessible.

For Sale $1,200,000. Also 5,000sf For Lease on 1st floor @ $12/sf NNN.

PERMITTED USES: Professional offices, Banks and other Financial institutions, Retail, Computer centers, Restaurant, Repair services such as radio, TV, electrical appliance shops, plumbing and carpenter shops, shoe repair shop, upholstery shop…
BY SPECIAL PERMIT: Drive-in type establishments, Commercial recreation, Parking lots and garages, Clubs/Lodges, Vocational Training Facilities, Public utility buildings and facilities…

I-95 North Exit 85. Keep right toward Thames St. At light go straight onto North St. It becomes Mitchell St. About ½ on right.

I-95 South Exit 87. Turn right onto Meridian St. Left onto Mitchell St. About ½ on right.

Additional Details

Nearest MSA: Norwich-New London
County: New London
Tax ID/APN: 168806488185
Property Located Between: I-95 and Electric Boat
Property Visibility: Excellent
Highway Access: One mile to I-95
Airports: 1.9 miles to Groton/New London Airport
Site Description: Corner lot at groton's "Five Corners" intersection.
Area Description: Located within walking distance to Electric Boat.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1950
Year Renovated: 1989
Total Parking Spaces: 70
Heat Type: Natural Gas
Heat Source: Central
Zoning Description: General Commercial
Lot Frontage: 218' on Poquonnock Rd and 172' on Mitchell St
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,556 59,080 86,135
Median Age: 32.14 34.38 37.28
Households: 7,748 23,301 33,531


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