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The Marina Apartments Development 21 Pawcatuck Ave 90,520 SF 100% Leased Industrial Building Pawcatuck, CT 06379 For Sale
Investment Highlights
- Desirable Location Along Pawcatuck River
- Large Scale Residential Development Opportunity
- Proximity to New London/Groton, Norwich, and Westerly, RI
- Approved 51-Unit Apartment Conversion
Executive Summary
Northeast Private Client Group is pleased to exclusively present for sale The Marina Apartments Development, located at 21 Pawcatuck Avenue in Stonington, Connecticut.
The Marina Apartments Development comprises two parcels: North and South. The North Parcel features a +/- 90,500 SF mill building, presenting a prime redevelopment prospect for 58 waterfront apartments. Notably, the adjacent section of the mill complex has been successfully transformed into The Treadmill Apartments, a 62-unit mixed-use building.
The South Parcel offers 2.5 acres of undeveloped land, including a parking area and wooded section suitable for up to 58 ground-up units, providing a blank canvas for future development.
Both parcels, situated along the Pawcatuck River on the Rhode Island border, can be acquired together or separately.
20% of the units must be rented to someone making 80% of the area median income. The remaining 80% of units will be market. Architectural building, structural plans, phase 1 environmental, asbestos, and a lead report are available upon request.
The Marina Apartments Development comprises two parcels: North and South. The North Parcel features a +/- 90,500 SF mill building, presenting a prime redevelopment prospect for 58 waterfront apartments. Notably, the adjacent section of the mill complex has been successfully transformed into The Treadmill Apartments, a 62-unit mixed-use building.
The South Parcel offers 2.5 acres of undeveloped land, including a parking area and wooded section suitable for up to 58 ground-up units, providing a blank canvas for future development.
Both parcels, situated along the Pawcatuck River on the Rhode Island border, can be acquired together or separately.
20% of the units must be rented to someone making 80% of the area median income. The remaining 80% of units will be market. Architectural building, structural plans, phase 1 environmental, asbestos, and a lead report are available upon request.
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Property Facts
| Sale Type | Investment | Lot Size | 5.24 AC |
| Sale Condition | Building in Shell Condition | Rentable Building Area | 90,520 SF |
| Property Type | Industrial | No. Stories | 4 |
| Property Subtype | Warehouse | Year Built | 1895 |
| Building Class | C | ||
| Zoning | MC-80 - Commercial Manufacturing | ||
| Sale Type | Investment |
| Sale Condition | Building in Shell Condition |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 5.24 AC |
| Rentable Building Area | 90,520 SF |
| No. Stories | 4 |
| Year Built | 1895 |
| Zoning | MC-80 - Commercial Manufacturing |
Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | STON-000005-000005-000002 | Improvements Assessment | $455,246 CAD |
| Land Assessment | $153,318 CAD | Total Assessment | $608,565 CAD |
Property Taxes
Parcel Number
STON-000005-000005-000002
Land Assessment
$153,318 CAD
Improvements Assessment
$455,246 CAD
Total Assessment
$608,565 CAD
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The Marina Apartments Development | 21 Pawcatuck Ave
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