Shopping Strip

Mystic Plaza

80 Stonington Rd, Mystic, CT 06355

Listing Price: $3,900,000

Cap Rate
8.10%
Gross SF
20,969
Rentable SF
20,969
Price/Gross SF
$185.99
Lot Size
3.26 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to present Mystic Plaza located at 80 Stonington Road in Mystic, Connecticut 06355 (New London County) Connecticut. The building is 20,969 square feet and sits on 3.26 acres of land. With an occupancy of 95 percent, the property benefits from a healthy mix of well-established tenants. Currently, the center has nine tenants: Porch & Patio, Spectrum Physical Therapy, The Nest, Pier Cleaners, Yoga Shala, Board & Brush, Giabonnis Riverside Salon and Spa, Coldwell Banker, Wellness Center, and one vacancy. Porch & Patio and Spectrum Physical Therapy have been in the center since it first opened for business in 2006. This highly visible site has excellent frontage along Connecticut's Route 1, a major thoroughfare with a density of businesses, hotels, and residential homes. The property is located just minutes from the renowned Mystic Aquarium, Mystic Seaport, and Mystics destination downtown boasting a plethora of shops, restaurants, art, and seasonal events.

Neighboring Groton, Connecticut is home to the Uited State Naval Submarine Base, General Dynamics Electric Boat (EB) and Pfizers R&D division, as well as Avery Point, the regional campus of the University of Connecticut. With roots dating back to 1868, the United State Naval Submarine Base is one of the oldest militaries bases the United State Navy operates. The United State Navy has awarded Electric Boat a $17.8 billion contract to construct its new class of submarines, which will result in the hire of approximately 15,000 people over the next ten years, most of whom will decide to live in the desirable town of Mystic. Pfizer is one of the world's largest pharmaceutical companies and has over 2.8 million square feet of professional development/lab space. Additionally, Hartford HealthCare recently commenced constructing a $24 million health center as part of phase three of the planned Perkins Farm development just 2.5 miles from the property.

Mystic is consistently ranked as the top small town in the state as well as one of the top ten best small towns in the country and is expected to experience an explosion in population growth. The property is located minutes from Amtrak and Shoreline East train terminal and just 2.5 miles from Interstate I-95. The property's tenant mix provides an excellent complement of services to residents and area employees and is conveniently located on the main route. A dedicated signalized entrance/exit on Route 1 offers easy and convenient access and on-site parking. This architectural gem provides a new owner with immediate steady cash flow in a strong location experiencing positive economic growth.

Investment Highlights

  • Excellent Visibility on a High Traffic Corridor at Signalized Entrance
  • Within Minutes of Several Substantial Employers
  • Immediate Cash Flow | Minimal Landlord Responsibilities | Triple Net Leases in Place
  • Excellent Mix of Established Regional and Local Tenants | Long-Term Tenancy
  • Located Directly Across from Big Y Grocery
  • High Average Household Income of $130,791 within Three Miles

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741

    Westchester

  • Maria DeAngelis

    Associate

    (203) 672-3329

    Email Maria

    License(s): CT: RES0807196

    New Haven

Financing By

Listing Price: $3,900,000

Cap Rate
8.10%
Gross SF
20,969
Rentable SF
20,969
Price/Gross SF
$185.99
Lot Size
3.26 acres
Year Built
2006

Investment Highlights

  • Excellent Visibility on a High Traffic Corridor at Signalized Entrance
  • Within Minutes of Several Substantial Employers
  • Immediate Cash Flow | Minimal Landlord Responsibilities | Triple Net Leases in Place
  • Excellent Mix of Established Regional and Local Tenants | Long-Term Tenancy
  • Located Directly Across from Big Y Grocery
  • High Average Household Income of $130,791 within Three Miles

Investment Overview

Marcus & Millichap is pleased to present Mystic Plaza located at 80 Stonington Road in Mystic, Connecticut 06355 (New London County) Connecticut. The building is 20,969 square feet and sits on 3.26 acres of land. With an occupancy of 95 percent, the property benefits from a healthy mix of well-established tenants. Currently, the center has nine tenants: Porch & Patio, Spectrum Physical Therapy, The Nest, Pier Cleaners, Yoga Shala, Board & Brush, Giabonnis Riverside Salon and Spa, Coldwell Banker, Wellness Center, and one vacancy. Porch & Patio and Spectrum Physical Therapy have been in the center since it first opened for business in 2006. This highly visible site has excellent frontage along Connecticut's Route 1, a major thoroughfare with a density of businesses, hotels, and residential homes. The property is located just minutes from the renowned Mystic Aquarium, Mystic Seaport, and Mystics destination downtown boasting a plethora of shops, restaurants, art, and seasonal events.

Neighboring Groton, Connecticut is home to the Uited State Naval Submarine Base, General Dynamics Electric Boat (EB) and Pfizers R&D division, as well as Avery Point, the regional campus of the University of Connecticut. With roots dating back to 1868, the United State Naval Submarine Base is one of the oldest militaries bases the United State Navy operates. The United State Navy has awarded Electric Boat a $17.8 billion contract to construct its new class of submarines, which will result in the hire of approximately 15,000 people over the next ten years, most of whom will decide to live in the desirable town of Mystic. Pfizer is one of the world's largest pharmaceutical companies and has over 2.8 million square feet of professional development/lab space. Additionally, Hartford HealthCare recently commenced constructing a $24 million health center as part of phase three of the planned Perkins Farm development just 2.5 miles from the property.

Mystic is consistently ranked as the top small town in the state as well as one of the top ten best small towns in the country and is expected to experience an explosion in population growth. The property is located minutes from Amtrak and Shoreline East train terminal and just 2.5 miles from Interstate I-95. The property's tenant mix provides an excellent complement of services to residents and area employees and is conveniently located on the main route. A dedicated signalized entrance/exit on Route 1 offers easy and convenient access and on-site parking. This architectural gem provides a new owner with immediate steady cash flow in a strong location experiencing positive economic growth.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741

    Westchester

  • Maria DeAngelis

    Associate

    (203) 672-3329

    Email Maria

    License(s): CT: RES0807196

    New Haven

Financing By

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