13 Palmer StStonington, CT 06379

This exceptional 2-acre commercial land parcel in Stonington, Connecticut, presents a remarkable development opportunity. Located at 13 Palmer St, 06379, this level and cleared lot is zoned PV-5, permitting high-density mixed-use or residential development. The property boasts convenient access to city water, sewer, and gas utilities, significantly streamlining the construction process. Its prime location offers easy walking distance to the vibrant downtown areas of both Pawcatuck and Westerly, Rhode Island, enhancing its appeal and potential for attracting residents and businesses. The site's proximity to the Pawcatuck River adds to its scenic allure. Furthermore, the existing infrastructure of adjacent multi-family units and a restaurant provides a built-in context for future development. This property is ideal for a 60+ unit affordable housing project, given the zoning and site characteristics. Potential financing options may include Tax Increment Financing (TIF), seller financing, or joint venture opportunities. This is a rare chance to acquire a well-situated, ready-to-develop parcel in a thriving area. The asking price is $599,000. Don't miss this chance to capitalize on this prime location and high-density zoning potential.