Nestled in the picturesque coastal town of Mystic, Connecticut, this commercial property presents a unique and exciting opportunity for investors and developers. Boasting a coveted Mixed-Use Development District (MDD) zoning, this property offers unlimited potential for creating a vibrant and diverse commercial space in the heart of this historic New England community. 1. **Prime Location: ** Situated along the picturesque Mystic Harbor, this property offers unparalleled access to the water and stunning waterfront views. With its proximity to the town center, it's ideally positioned for attracting visitors, tourists, and locals. 2. **MDD Zoning: ** The Mixed-Use Development District (MDD) zoning allows for a wide range of development possibilities. From retail and dining establishments to residential units and entertainment venues, the potential is boundless. This zoning offers the flexibility to create a dynamic and integrated space that caters to the needs and desires of the community. 3. **Development Rights: ** Included in the sale of this property are valuable development rights, granting the buyer the ability to maximize the potential of the land. These rights offer the freedom to shape the future of this space, ensuring that it aligns with the vision of the developer. 4. **Scenic Beauty: ** The property's natural beauty, including its waterfront location, offers an attractive backdrop for any development. Imagine an elegant waterfront dining area, boutique shops with a view, or even luxury waterfront condos. 5. **Historic Charm: ** Mystic, Connecticut, is known for its historic charm. Any development on this property has the opportunity to blend seamlessly with the town's character while offering a fresh and modern perspective. 6. **Tourist Destination: ** Mystic is a popular tourist destination, attracting visitors from near and far. The property's proximity to renowned attractions like Mystic Seaport and Mystic Aquarium ensures a constant stream of potential customers. Investing in this Mystic Harbor front Development Opportunity with MDD zoning and development rights provides a chance to shape the future of this historic and charming town. Whether you're envisioning a thriving commercial center, a mixed-use community, or an entertainment hub, this property offers a canvas for your vision. *Please note that all details and information provided are subject to change and should be verified with the appropriate authorities and professionals. This write-up is intended for informational purposes only and does not constitute a legally binding offer or agreement. * Can be sold together with MLS# 170608854 Sign and return NDA for access to financials
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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 | $2,799,200 | $2,799,200 | $2,799,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
Monthly Tax Payment | $1,435 | $1,435 | $1,435 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $15,894 | $17,463 | $23,433 |
Total Monthly Payment | $17,454 | $19,023 | $24,993 |
* 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.