140 Waterford Parkway South, Waterford, CT, 06385 | $8,000,000

The former Waterford Airport consisting of 189 acres in the IP-1 zone and 4 separate lots totaling 139 acres in the R-40 zone are offered as a master development opportunity to create a mixed use environment on the 328 acres. With 600 feet of frontage on I-95, the site is directly across from a major retail destination that includes Lowes, Walmart Supercenter as well as other major national retailers. EB, Pfizer and the Coast Guard and Navy facilities are just minutes away in New London and Groton. The 328 acres are suitable for commercial, industrial, recreational and residential uses, with the town of Waterford open to an integrated set of uses that are compatible with those allowed by right as well as those allowed by special permit. Property is accessed from Waterford Parkway South which runs parallel to I-95 off exit 81 Cross Road (north and south).

Features

  • Current Use: Vacant Land
  • Permitted Use: Industrial, Residential
  • Utilities: Electric Available,Gas Available,Phone Available,Cable Available
  • Garage: Other
  • Heating: No Heat
  • Cooling: None
  • Zoning: IP-1 & R-40
  • Frontage: Interstate Highway,State Road,Paved Road
  • Year Built: 2024
  • Acreage: 328
  • Est. Taxes: $29,013
  • Lot Desc: Additional Land Avail.,Some Wetlands
  • MLS#: 170597352
  • Website: https://www.raveis.com
    /prop/170597352/140waterfordparkwaysouth_waterford_ct?source=qrflyer
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Listing courtesy of Lyman Real Estate

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NMLS Mortgage Loan Originator ID 81725

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140 Waterford Parkway South, Waterford, CT, 06385

$8,000,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

Senior Vice President - Coaching & Strategic

William Raveis Mortgage, LLC

Phone: 203.980.8025

Frank.Kolb@raveis.com

NMLS Mortgage Loan Originator ID 81725

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $6,400,000 $6,400,000 $6,400,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.750% 6.500% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.844% 6.597% 6.158%
Monthly Tax Payment $2,418 $2,418 $2,418
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $37,349 $40,452 $54,007
Total Monthly Payment $39,892 $42,995 $56,550

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.