34-38 Water St
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34-38 Water St
11,121 SF 100% Leased Office Building Mystic, CT 06355 £2,503,058 (£225/SF) 2.76% Net Initial Yield
Executive Summary
1. **Prime Location:** Situated along the picturesque Mystic Harbor, this property offers unparalleled access to the water and stunning waterfront views. With its proximity to the town center, it's ideally positioned for attracting visitors, tourists, and locals.
2. **MDD Zoning:** The Mixed-Use Development District (MDD) zoning allows for a wide range of development possibilities. From retail and dining establishments to residential units and entertainment venues, the potential is boundless. This zoning offers the flexibility to create a dynamic and integrated space that caters to the needs and desires of the community.
3. **Development Rights:** Included in the sale of this property are valuable development rights, granting the buyer the ability to maximize the potential of the land. These rights offer the freedom to shape the future of this space, ensuring that it aligns with the vision of the developer.
4. **Scenic Beauty:** The property's natural beauty, including its waterfront location, offers an attractive backdrop for any development. Imagine an elegant waterfront dining area, boutique shops with a view, or even luxury waterfront condos.
5. **Historic Charm:** Mystic, Connecticut, is known for its historic charm. Any development on this property has the opportunity to blend seamlessly with the town's character while offering a fresh and modern perspective.
6. **Tourist Destination:** Mystic is a popular tourist destination, attracting visitors from near and far. The property's proximity to renowned attractions like Mystic Seaport and Mystic Aquarium ensures a constant stream of potential customers.
Investing in this Mystic Harbor front Development Opportunity with MDD zoning and development rights provides a chance to shape the future of this historic and charming town. Whether you're envisioning a thriving commercial center, a mixed-use community, or an entertainment hub, this property offers a canvas for your vision.
*Please note that all details and information provided are subject to change and should be verified with the appropriate authorities and professionals. This write-up is intended for informational purposes only and does not constitute a legally binding offer or agreement.*
2. **MDD Zoning:** The Mixed-Use Development District (MDD) zoning allows for a wide range of development possibilities. From retail and dining establishments to residential units and entertainment venues, the potential is boundless. This zoning offers the flexibility to create a dynamic and integrated space that caters to the needs and desires of the community.
3. **Development Rights:** Included in the sale of this property are valuable development rights, granting the buyer the ability to maximize the potential of the land. These rights offer the freedom to shape the future of this space, ensuring that it aligns with the vision of the developer.
4. **Scenic Beauty:** The property's natural beauty, including its waterfront location, offers an attractive backdrop for any development. Imagine an elegant waterfront dining area, boutique shops with a view, or even luxury waterfront condos.
5. **Historic Charm:** Mystic, Connecticut, is known for its historic charm. Any development on this property has the opportunity to blend seamlessly with the town's character while offering a fresh and modern perspective.
6. **Tourist Destination:** Mystic is a popular tourist destination, attracting visitors from near and far. The property's proximity to renowned attractions like Mystic Seaport and Mystic Aquarium ensures a constant stream of potential customers.
Investing in this Mystic Harbor front Development Opportunity with MDD zoning and development rights provides a chance to shape the future of this historic and charming town. Whether you're envisioning a thriving commercial center, a mixed-use community, or an entertainment hub, this property offers a canvas for your vision.
*Please note that all details and information provided are subject to change and should be verified with the appropriate authorities and professionals. This write-up is intended for informational purposes only and does not constitute a legally binding offer or agreement.*
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
11,121 SF
Building Class
C
Year Built
2002
Price
£2,503,058
Price Per SF
£225
Net Initial Yield
2.76%
NOI
£69,119
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
3,707 SF
Building FAR
0.24
Land Acres
1.08 AC
Zoning
MDD - Mystic Downtown District
Amenities
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Undisclosed
- Information
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Undisclosed | Information | - | - | - |
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PROPERTY TAXES
| Parcel Number | GROT-002618-000639-004395 | Improvements Assessment | £194,576 |
| Land Assessment | £338,406 | Total Assessment | £532,981 |
PROPERTY TAXES
Parcel Number
GROT-002618-000639-004395
Land Assessment
£338,406
Improvements Assessment
£194,576
Total Assessment
£532,981
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Dylan LaGrandeur -
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34-38 Water St
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