44 Williams AveStonington, CT 06355

Property Details for 44 Williams Ave

Year built

1940

Lot size

0.17 AC

Property size (Sq ft)

3,577 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This exceptional investment opportunity presents a fully renovated, 3,577 square foot boutique hotel in Stonington, Connecticut. The property, built in 1940 and completely remodeled in 2023 and 2024, boasts four uniquely appointed suites: three studios and a stunning two-level, three-bedroom penthouse. Each suite is meticulously furnished and equipped with high-end appliances, including full-size refrigerators, dishwashers, and electric stovetops. The penthouse features a spacious layout, two private decks, and a gourmet kitchen with Sub-Zero and Wolf appliances. The hotel benefits from eleven on-site parking spaces, a rare find in this desirable location. Situated a short walk from downtown Mystic's attractions, including the waterfront and train station, this property offers unparalleled convenience and access to local amenities. The LS-5 zoning permits hotel/motel use. The property features energy-efficient design and boasts a strong pro-forma NOI of $236,368 and a 7.90% cap rate. This turnkey operation is ideal for an owner/user seeking a high-return investment in a prime location, less than a 20-minute drive from Foxwoods and Mohegan Sun Casinos. The asking price is $2,625,000, representing a price per square foot of $733.86 and a price per bed of $437,500. The 0.17-acre lot houses a three-story building.

Location Insight

City

Stonington

County

New London

State

Connecticut

Latitude

41.3489

Longitude

-71.9573

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