For Sale Details
$357,142.86 / acre
- Property Type Land / Multifamily
- Sale Type Investment
- Buyer's Broker Comp 2
- Status Active
- Created 08/26/26
- Updated 08/26/26
About 155 Crystal Lake Road, Groton, CT 06340
155 Crystal Lake Road presents an opportunity to acquire a multifamily development site in Groton, Connecticut with an existing 45-unit engineering concept and a pathway toward seller-delivered approvals. The 3.15-acre property is zoned CN and is served by municipal water and sewer, providing a foundation for future residential development. Existing concept plans contemplate a mix of studio, one-bedroom, and two-bedroom units, with supporting amenity and leasing components that may be refined through the approval process.
A distinguishing feature of the offering is the ability for a purchaser to influence the final development program before approvals are completed. The current engineering concept allows buyer input on unit mix, amenities, floor plan configuration, and other project details while maintaining the overall 45-unit development framework. This creates flexibility for developers seeking to tailor the project to market demand, investment objectives, or operational strategies.
The property's location directly across from the front gate of SUBASE New London places it within one of southeastern Connecticut's most significant employment and military centers. The installation supports more than 70 tenant commands and over 9,500 military, reserve, and civilian personnel, while nearby Electric Boat serves as a major regional employer involved in submarine design, construction, and lifecycle support. The site also benefits from visibility along Crystal Lake Road and convenient access to CT-12, supporting connectivity throughout the Groton-New London market.
With an established engineering concept, municipal utilities, and a location adjacent to major employment drivers, 155 Crystal Lake Road offers developers an opportunity to advance a multifamily project in a supply-constrained coastal Connecticut market.
Land Details
- Zoning: CN
- Topography: Sloping
- Acreage: 3.15
- Sewage System: Public Sewer In Street
- Water System: Public Water In Street
The Land / Multifamily property at 155 Crystal Lake Road, Groton, CT 06340 is currently available for sale. Contact Ron Lyman from Lyman Real Estate for more information.
