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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.

Property Facts

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.

Property Taxes

Property Taxes

Parcel Number
WATE-000055-000000-006518
Land Assessment
$426,170
Improvements Assessment
$1,002,060
Total Assessment
$1,428,230
  • Listing ID: 34647338

  • Date on Market: 1/29/2025

  • Last Updated:

  • Address: 45 Richards Grove Rd, Quaker Hill, CT 06375

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