12 Water Street, Groton, CT 06355
12 Water Street, Groton, CT 06355
12 Water Street, Groton, CT 06355
12 Water Street, Groton, CT 06355
12 Water Street, Groton, CT 06355
12 Water Street, Groton, CT 06355
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Alex De Camargo

Alex De Camargo

+1(203) 312-6287
$ 18,000,000
Est. payment | /mo

2 Baths

35,520 SqFt

Save
$ 18,000,000
Est. payment | /mo
Save

2 Baths

35,520 SqFt

Key Details

Property Type Commercial

Listing Status Under Contract

Purchase Type For Sale

Square Footage 35,520 sqft

Price per Sqft $506

MLS Listing ID 24158924

Full Baths 2

Year Built 1864

Annual Tax Amount $153,507

Lot Size 1.610 Acres

Property Description

12 Water Street represents a rare and compelling redevelopment opportunity in the heart of one of New England's most celebrated coastal destinations. Situated on 1.61 acres along the storied waterfront of Mystic, Connecticut, the property offers a substantial existing 4-story, 60,143-square-foot mixed-use building with immediate proximity to the iconic Mystic Drawbridge - one of the most photographed landmarks in the northeastern United States. The site is zoned within the Mystic Downtown District (MDD), a designation purpose-built to encourage concentrated, pedestrian-oriented mixed-use and residential development while preserving the historic character that defines Mystic's irreplaceable sense of place. The MDD zoning framework, combined with the property's scale, location, and existing structure, positions 12 Water Street as an exceptional candidate for adaptive residential reuse - and the recently completed luxury condo projects in the immediate market leave no ambiguity about the demand that awaits a well-executed vision here. Central Hall at 22 West Main Street, completed in 2022 and located within steps of the subject property, is now fully absorbed - including a number of off-market transactions that never reached the open market. Prices at Central Hall accelerated from $743 per square foot at initial closings to over $1,170 per square foot by mid-2025, demonstrating both the depth of demand and the market's appetite for premium product in this location.

Location

State CT

County New London

Zoning MDD

Interior

Heating Baseboard, Heat Pump, Hot Air, Hot Water

Cooling Central Air

Flooring Ceramic Tile, Tile, Vinyl, Wall-to-Wall Carpet, Wood

Exterior

Utilities Available Electric, Gas, Telephone, Cable

Roof Type Asphalt Shingle,Metal

Building

Lot Description Dry, Level Lot

Story 4

Foundation Block, Masonry

Sewer Public Sewer Connected

Water Public Water Connected

Listed by Dylan Lagrandeur • Berkshire Hathaway NE Prop.

Nearby Locations

Alex De Camargo

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(203) 312-6287

alex.decamargo@exprealty.com

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12 Water Street