237 Main StEast Lyme, CT 06357

Property Details for 237 Main St

Lot size

2.11 AC

Zone code

CA

Property type

Other commercial real estate

APN

ELYM M:009.4 B:00065 L:00000

APU

ELYMM0094B00065L00000

Description

Exceptional opportunity to acquire a thriving 32-unit motel in Niantic, Connecticut. This established property boasts 100% occupancy and offers immediate access from I-95, providing unparalleled convenience for travelers. Situated in a desirable location, the motel is within walking distance of restaurants, beaches, and parks. Downtown Niantic, with its vibrant array of shops, restaurants, theaters, marinas, and other attractions, is just minutes away. Golf courses are also conveniently nearby. The property's strategic location provides easy access to various transportation options, including ferries to New York and Block Island, train service, and major roadways. It's ideally positioned midway between New York and Boston, offering convenient access to travel by land, sea, rail, or air. New London is just 10 minutes away, while Old Saybrook is 10 minutes, casinos are 20 minutes, Mystic and Rhode Island are approximately 30 minutes, and Hartford is less than an hour away. This single-story building presents a compelling investment opportunity in a high-demand tourist area. The asking price is $3,150,000.

• Alternative Use

  Use

  Valuation

  Residential

  $17,393,346

  Hospitality

  $15,932,211

  Educational

  $13,255,412

  Medical

  $13,711,286

  Retail

  $20,619,530

Location Insight

City

Niantic

County

New London

State

Connecticut

Latitude

41.318

Longitude

-72.24

CBSA code

35980

CBSA name

NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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