Investment Overview

The subject property is a 7.23 acre development parcel located at 16-20 Stonington Road (Route 1) in Mystic, CT. The parcel currently contains a single story retail building which was previously used as an antique store and contains approximately 5.5 acres of buildable land. The village of Mystic is located within the towns of Groton and Stonington, this parcel is located on the Stonington (East) side and adheres to the zoning regulations of Stonington. Mystic was recently (May 2023) recognized by USA Today as the 4th top tourist destination in the country. Mystic is also regularly regarded as the top summer destination in the State of Connecticut and is frequently featured on “best of” lists. The site is zoned GC-60/General Commercial providing for a variety of uses. The property is located within 1 mile of the highly acclaimed Mystic Seaport Museum which is one of the largest maritime museums in the country. Also within a mile is the village of Mystic’s downtown which includes many shops, restaurants, galleries and hosts many seasonal events. Amtrak maintains a train station in Mystic which is located a half mile from the property. There are more than a dozen marina’s within 2 miles including 10 in the downtown area with several others located on the highly exclusive Mason’s Island whose sole access road is located 300 feet from the property. The property is less than 2 miles from the renowned Mystic Aquarium, the Olde Mistick Village shops and Interstate 95 North/South. Neighboring Groton, Connecticut is home to the US Naval Submarine Base, with roots dating back to 1868, it is one of the oldest military bases the US Navy operates; General Dynamics Electric Boat and Pfizer, one of the world's largest pharmaceutical companies; as well as Avery Point, the regional campus of the University of Connecticut. The US Navy has awarded Electric Boat several multi billion dollar contracts for nuclear-submarine work and Hartford HealthCare recently completed construction of a $24 million health center as part of phase three of the planned Perkins Farm development just 2.5 miles from the property.