830 Stonington Rd - Coveside Marina
21,000 SF Specialty Building Offered at $5,450,000 in Stonington, CT 06378
EXECUTIVE SUMMARY
Rare opportunity to acquire Coveside Marina, a 10.6 acre waterfront commercial property with multiple income streams in Stonington, a desirable seaside enclave conveniently located between Boston and New York, and minutes to historic downtown Mystic, Stonington Borough, and Watch Hill. The marina is located in the protected water of Wequetequock Cove with direct access to Fishers Island Sound with wonderful blue water travel to numerous vacation destinations and renowned fishing sites. Multiple revenue streams include 140 wet slips (approval for 240 total slips), dry storage, mechanical service from a 2,000 SF marine workshop, and residential rentals including a recently renovated 6 bedroom / 2.5 bathroom cottage and 4 studio cottages. With approximately 800 linear feet of frontage on Wequetequock Cove, the parcel is zoned Marine Commercial, which allows substantial footprint for indoor storage building, as well as new residential. Value-Add preliminary approvals for 10 bedroom / 12 bathroom hotel residence and another 8 bedroom residence. High demand for indoor storage and short term residences considering on-site marine amenities, proximity to Stonington Borough, and extremely convenient Regional accessibility.
PROPERTY FACTS
| Price | $5,450,000 |
| Price Per SF | $259.52 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Marina |
| Building Class | C |
| Lot Size | 10.60 AC |
| Building Size | 21,000 SF |
| No. Stories | 3 |
| Year Built | 1940 |
| Tenancy | Single |
| Parking Ratio | 1.09/1,000 SF |
AMENITIES
- Waterfront
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,358,200 | |
| Land Assessment | $572,500 | Total Assessment | $1,930,700 |
ZONING
| Zoning Code | MC-80 (Marine Commercial zone including but not limited to the following uses - marina, storage, residential.) |
