830 Stonington Rd - Marinas FOR SALE


Stonington, CT 06378- Southeast New London
$5,450,000 USD
401-954-5703
830 Stonington Rd, Stonington, CT for Sale
$5,450,000 USD
Marinas - FOR SALE
1/27
null | Request Cap Rate

830 Stonington Rd
Stonington, CT 06378
Southeast New London


OVERVIEW

Rare opportunity to acquire Coveside Marina, a 10.6 acre waterfront commercial property with multiple income streams in Stonington, a desirable seaside enclave conveniently located between Boston and New York, and minutes to historic downtown Mystic, Stonington Borough, and Watch Hill. The marina is located in the protected water of Wequetequock Cove with direct access to Fishers Island Sound with wonderful blue water travel to numerous vacation destinations and renowned fishing sites. Multiple revenue streams include 140 wet slips (approval for 240 total slips), dry storage, mechanical service from a 2,000 SF marine workshop, and residential rentals including a recently renovated 6 bedroom / 2.5 bathroom cottage and 4 studio cottages. With approximately 800 linear feet of frontage on Wequetequock Cove, the parcel is zoned Marine Commercial. Value-Add preliminary approvals for 10 bedroom / 12 bathroom hotel residence and another 8 bedroom residence. High demand for indoor storage and short term residences considering on-site marine amenities and proximity to Stonington Borough. P&L's available upon NDA signature.

FOR SALE DETAILS

PRICE

$5,450,000 USD

PRICE/SF

$260 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Coveside Marina

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Marinas

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

10.6 AC

LAND SF

461,736 SF

ZONING

MC-80

APN/PARCEL ID

STON-000057-000002-000010A

ASK ABOUT THIS PROPERTY

Gregory ArakelianLila Delman CompassMore Info
401-954-5703

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Gregory ArakelianLila Delman CompassMore Info
401-954-5703

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.