514 Thames Street new Save Request In-Person Tour Request Virtual Tour
Groton,CT 06340
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 10,510 sqft
Price per Sqft $114
MLS Listing ID 24123804
Year Built 1981
Annual Tax Amount $7,018
Lot Size 0.340 Acres
Property Description
520 Thames Street presents a rare opportunity to acquire a highly functional, strategically located office asset in the heart of southeastern Connecticut's most dynamic employment corridor. Situated directly across from General Dynamics Electric Boat, the region's largest and most stable economic driver, this three-story, 10,510 square foot building offers a compelling investment profile for both owner-users and investors alike. With 9,575 square feet of professional office space and an additional 935 square feet of dry storage, the property is ideally suited for medical, governmental, or professional tenants seeking proximity to the submarine manufacturing hub and surrounding institutional employers such as Pfizer and Lawrence + Memorial Hospital. The building's durable construction-steel frame, brick masonry, and clear-span floor plates-along with 35 off-street parking spaces, sets it apart in a market with limited high-quality inventory. Recent growth at Electric Boat, including billions in federal contracts and site expansions to support over 15,000 employees, continues to drive robust demand for nearby office space. With updated lease rate assumptions, stable income potential, and favorable zoning, 520 Thames Street offers immediate value and long-term upside through targeted lease-up and minor cosmetic improvements.
Location
State CT
County New London
Zoning GC
Interior
Heating Hot Air
Cooling Central Air
Exterior
Exterior Feature Sidewalk
Parking Features Parking Lot,On Street Parking,Off Street Parking
Utilities Available Electric,Telephone,Cable
Roof Type Asphalt Shingle
Building
Lot Description Corner Lot,Dry
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected