0 Crystal Lake Rd - Approved 92-Unit M-F across from Sub Base 8.38 Acres of Commercial Land Offered at $3,739,892 CAD in Groton, CT 06340

0 Crystal Lake Road presents the opportunity to acquire a fully approved multifamily development site in Groton, Connecticut. The offering includes approvals for a 92-unit apartment community situated on an executable 8.38-acre development plan immediately adjacent to the Naval Submarine Base and within one of southeastern Connecticut's most significant defense and maritime employment corridors. The approved program consists of two residential buildings totaling 92 units, including a mix of studio and one-bedroom apartments, supported by an extensive amenity package and 99 parking spaces with EV-ready infrastructure.
A key differentiator of this opportunity is the advanced stage of project readiness. Civil, zoning, wetlands, utility, traffic, and access approvals are in place, and the offering includes supporting surveys, architectural planning, landscape documentation, and contractor pricing. Public water and public sewer service are available to the site, reducing entitlement and infrastructure uncertainty for a future developer.
The development is positioned to benefit from proximity to major regional demand drivers, including Naval Submarine Base New London, Electric Boat, defense contractors, and military households throughout the Groton-New London market. The property's location near Route 12 provides convenient regional connectivity while placing future residents close to one of the area's largest employment concentrations.
The seller has obtained contractor pricing for sitework, providing prospective buyers with a defined basis for horizontal development costs. Combined with completed approvals, a phased construction approach, and a substantial amenity program featuring recreation areas, clubhouse facilities, trails, and outdoor gathering spaces, the project offers a streamlined path toward development and long-term multifamily investment potential.