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 parcel 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. *The Owner is a Connecticut Real Estate Broker Licensee
Frontage:
Municipal Street
Heating:
Baseboard, Gas on Gas, Heat Pump
Cooling:
Ductless, Window Unit
Current Use
Residential, Retail, Hospitality, Short Term Rentals
Permitted Use
Redevelopment, Hotel, Pool
Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Zach Pranger, Group Realty LLC Email: zachary@eastcoastgrouprealty.com
3 Pearl Street, Groton, (Mystic), CT, 06355
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
CT Mortgage Lender ML-2630 - MA Mortgage Lender and Mortgage Broker #MC2630 - NH Mortgage Banker #11083-MB - RI Mortgage Lender & Mortgage Broker #20051918LL & #20051919LB - NY Licensed Mortgage Banker - NYS Department of Financial Services LMBC 106535 / B500898 - NJ Residential Mortgage Lender 2630 - FL Mortgage Lender MLD1388 - VT Lender & Mortgage Broker #6952 & #1297MB
