3 Pearl St and 5 Pearl St 2 Retail Properties Offered at $8,400,000 in Multiple Locations
INVESTMENT HIGHLIGHTS
- Twelve Units in the Heart of Downtown Mystic (10 Residential & 2 Retail with NNN Leases).
- Huge Value Add Opportunity by Developing the Parcel (One of the Largest in Downtown Mystic).
- Property Features a Thriving Short Term Rental Business and Long Term Leases
EXECUTIVE SUMMARY
2.5% Commission for Buyer's Agents. Incredible investment opportunity with over half an acre located in the heart of Downtown Mystic, steps away from the Historic Draw Bridge. Now a resort style property, all four buildings at 3 and 5 Pearl Street are being offered together to create this 0.525 Acre package, a perfect addition to your investment portfolio, with NNN leases and an extensive renovation adding high end amenities and cost saving upgrades inside and out ensures bare minimum landlord responsibilities and no deferred maintenance. This 10,100 sqft retail/residential package offers a unique opportunity for redevelopment of one of the largest parcels of land in Downtown Mystic, named a top tourist destination in the U.S.
PROPERTY FACTS
| Price | $8,400,000 |
| Price / SF | $831.68 / SF |
| Cap Rate | 9.17% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 10,100 SF |
| Total Land Area | 0.52 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 3 Pearl St, Mystic, CT 06355 | Retail | 5,151 SF | 1843 | - |
| 5 Pearl St, Groton, CT 06340 | Retail | 4,949 SF | 1900 | - |
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CONTACTS
-
Ari Bigi -
Zachary Pranger -
Group Realty LLC
