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45 Richards Grove Rd 35,385 SF Industrial Building Quaker Hill, CT 06375 $1,500,000 ($42.39/SF) 10% Cap Rate

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Investment Highlights

WATER-FRONT 4.9 ACRE property in multiple directions.
Property includes one warehouse 24,000 sq ft, office/showroom/storage 14,452, and two (4,520, 8,384) other storage spaces.

Water-views, easy access to route 32, with quick access to Route 12, Route 395, Route 95.

Executive Summary

This 4.9-acre waterfront industrial and redevelopment property offers active rail access and excellent regional connectivity. The site includes direct rail service into the property and warehouse and features four industrial/commercial buildings totaling approximately 51,000 square feet. Improvements include gated entry, perimeter fencing, extensive asphalt paving, warehouse space, offices, and storefront components, allowing for immediate industrial or warehouse use. Located in a residential neighborhood with water views and water access, the property maintains strong access to Route 32, Route 12, I-395, and I-95, supporting logistics, distribution, and commuter access. Zoning allows warehouse and distribution, rail-served industrial operations, marine or boat storage and service, commercial use, or residential redevelopment. Current zoning supports up to 40 residential units, with potential for additional density subject to approvals. Demand is driven by proximity to Electric Boat, Pfizer, the U.S. Coast Guard Academy, Connecticut College, Mitchell College, and the New London Naval Base. The property is may be leased, repositioned, or redeveloped, offering multiple strategies on a rail-served waterfront asset.

Buildings and Specs

Final survey

WD Zoning DEFINITIONS

WD Zoning Overview - Rail-Served Waterfront Property

Waterfront Development Zoning - Quick Overview

Map

Elevation Certificate

45 Richards Grove Map with Dimensions

45 Richards Grove BINDER

Property Facts

Price	$1,500,000	Lot Size	4.90 AC
Price Per SF	$42.39	Rentable Building Area	35,385 SF
Sale Type	Investment	No. Stories	1
Cap Rate	10%	Year Built	1999
Property Type	Industrial	Parking Ratio	1/1,000 SF
Property Subtype	Service Flex Research & Development Industrial Manufacturing Industrial Warehouse	Clear Ceiling Height	22’
Building Class	C
Zoning	WD - Waterfront zoning allows marinas, docks, boatyards, marine sales, restaurants, housing, hotels, and mixed waterfront uses with public access.

Price	$1,500,000
Price Per SF	$42.39
Sale Type	Investment
Cap Rate	10%
Property Type	Industrial
Property Subtype	Service Flex Research & Development Industrial Manufacturing Industrial Warehouse
Building Class	C
Lot Size	4.90 AC
Rentable Building Area	35,385 SF
No. Stories	1
Year Built	1999
Parking Ratio	1/1,000 SF
Clear Ceiling Height	22’
Zoning	WD - Waterfront zoning allows marinas, docks, boatyards, marine sales, restaurants, housing, hotels, and mixed waterfront uses with public access.