This exceptional commercial property, located at 311 Mitchell Street in Groton, CT, presents a compelling investment opportunity. The 1,148 square foot building sits on a 0.3-acre lot and boasts 286 feet of road frontage, ensuring high visibility and accessibility. Currently operating as a combined office and car wash, the property benefits from a strong existing tenant under a five-year net-net-net (NNN) lease, providing immediate and consistent cash flow. The location is highly desirable, within easy walking distance of Electric Boat and numerous surrounding businesses, guaranteeing a steady stream of potential customers. Daily traffic counts in the area range from 2,900 to 3,100 vehicles, further underscoring the property's prime commercial viability. The existing parking situation can be explored further with the town to determine expansion possibilities. The property's versatile layout and strategic location make it suitable for a variety of commercial uses, offering significant potential for future growth and increased profitability. This is a rare opportunity to acquire a well-established commercial property in a thriving Connecticut location. The strong tenant and high traffic count make this an attractive investment for both seasoned and new investors. Serious inquiries are encouraged.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$279,004
6.5%
$257,542
7%
$239,146
Comparable approach
Method
Valuation
Relative Method
$377,994
Geo Method
$377,994
Alternative Use
Use
Valuation
Residential
$217,246
Hospitality
$198,997
Educational
$165,563
Medical
$171,257
Retail
$257,542
Location Insight
City
Groton
County
New London
State
Connecticut
Latitude
41.3488
Longitude
-72.0761
CBSA code
35980
CBSA name
NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA
How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Learn more
Useful Information
Request information
Message sent successfully
Error
If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
Message sent successfully
Error
Email this Information
Message sent successfully
Error
Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
Sign Up
Already a member?
Just one more step, let’s verify your email
We have sent a verification link to
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.