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$575,000

  • For Sale
  • Active
  • Commercial
See This Home
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Unlock significant investment potential in highly desirable Five Corners District of Groton City. This versatile .42-acre mixed-use property presents an exceptional opportunity for investors seeking to capitalize on regional growth. The main building offers 5,355 total sq ft: ~3,480 sq ft is finished space that houses a professional office suite and two residential apartments, each with private entrances. There is a 1-bedroom apartment on the first floor, and a 2nd floor 3-beroom. The rest of the main building is an annex with two large storage or workshop spaces. In the rear, is a recently improved detached garage with an upper-story loft. Capital improvements include a new garage roof installed in the fall; energy-efficient mechanical upgrades - a new boiler, hot water tanks, and a new oil tank. The garage is leased separately. Ample parking is available, providing the flexibility to augment current and future business or residential needs. The property is serviced by public water and sewer and benefits from favorable zoning within this special district. This location is uniquely positioned to serve the surging demand for housing and parking created by regional job growth at Electric Boat (General Dynamics). Pfizer, Yale-affiliated medical systems, and local colleges are also nearby. This offering combines historical value with immense untapped ROI potential. Bring your vision to this rare, well-located asset.

Full Property Details for 296 Mitchell St

General

  • Price: $575,000
  • Taxes: (July 2026-June 2027)
  • Status: Active
  • Type: Commercial
  • Source: SMARTMLS
  • MLS ID: 24189342
  • Updated: 7/16/2026
  • Added to Site: 65 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 3
  • Half Bathrooms: 1

Parking

  • Covered Parking: Yes
  • Covered Spaces: 1
  • Uncovered Spaces: 10
  • Total Spaces: 11
  • Parking: Paved, Off Street Parking, Driveway

Location

  • County: New London
  • Neighborhood: Groton City
  • Driving Directions: GPS Friendly. From I-95, follow signs to Downtown Groton.

Community

  • Community Name: Groton City

Heating & Cooling

  • Cooling Type: Central Air, Split System, Wall Unit
  • Heating Type: Hot Water, Zoned, Electric, Oil
  • Heating Fuel: Electric, Oil

Utilities

  • Sewer: Public Sewer Connected
  • Water: Public Water Connected
  • Utility Description: Electric, Electric Available, Cable, Underground Required

Structural Information

  • Roof: Asphalt Shingle
  • Stories/Levels: 3
  • Stories in Building: 3
  • Square Feet: 5,355
  • Sq. Ft. Source: Owner
  • Living Area: 1,800 Sq. Ft.
  • Current Bldg. Use: Mixed Use
  • Office: 1,700 Sq. Ft.
  • Warehouse: 1,500 Sq. Ft.
  • Year Built: 1947

Unit Information

  • # Tenants: 3

Unit 1

  • Unit Description: 1 Bedroom
  • Square Feet: 600
  • Total Bathrooms: 1

Unit 2

  • Unit Description: 3 Bedrooms
  • Square Feet: 1200
  • Total Bathrooms: 1

Unit 3

  • Unit Description: Office
  • Square Feet: 1700
  • Total Bathrooms: 2
  • Partial Bathrooms: 1

Lot Features

  • Lot Size (Acres): 0.42
  • Frontage: Municipal Street
  • Present Use: Mixed Use
  • Zoning: FC
  • Lot Description: Level Lot

Financial Considerations

  • Assessment Amount: $209,160
  • Tax Year: July 2026-June 2027

Disclosures and Reports

  • Documents Avail.: Brochure, Demographic Data, Legal Description
  • Property ID: 1950723

Listed by William Pitt Sotheby's Int'l, MJ Derisio

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Listing agent

— 296 Mitchell St —

  • MJ Derisio

    William Pitt Sotheby's Int'l

Agent Contact: (860) 304-8020 Office Contact: (860) 434-2400

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 296 Mitchell St

School District:Groton School District
NameGradesDistance
Thames River Magnet School
154 Toll Gate Road, Groton, CT 06340
PK-51.8 mi
Groton Middle School
35 Groton Long Point Road, Groton, CT 06340
6-83.4 mi
Fitch Senior High School
101 Groton Long Point Road, Groton, CT 06340
9-123.3 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 296 Mitchell St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
7/08/2026
Listed
$575,000
135.9%
MLS
3/30/2015
Sold
$243,750
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 296 Mitchell St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$5,656
8%
$195,650
—
2023
$5,261
4%
$195,650
—
2023
$5,048
3%
$195,650
—
2022
$4,881
-20%
$195,650
-3%
2021
$6,100
24%
$201,460
20%
2020
$4,918
3%
$167,230
—
2019
$4,761
1%
$167,230
2%
2018
$4,697
—
$163,380
—
2017
$4,714
-12%
$163,380
-17%
2016
$5,347
1%
$196,840
—
2015
$5,279
7%
$196,840
—
2014
$4,912
-1%
$196,840
—
2011
$4,983
—
$196,840
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by William Pitt Sotheby's Int'l, MJ Derisio

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296 Mitchell Street, Groton, CT 06340 (MLS# 24189342) is a Commercial property. 296 Mitchell Street is currently listed for $575,000 and was received on July 08, 2026. Want to learn more about 296 Mitchell Street? Do you have questions about finding other Commercial real estate for sale in Groton City? You can browse all Groton City real estate or contact a Coldwell Banker agent to request more information.

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