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Unlock significant investment potential in highly desirable Five Corners District of Groton City. This versatile .42-acre mixed-use property presents an exceptional opportunity for investors seeking to capitalize on regional growth. The main building offers 5,355 total sq ft: ~3,480 sq ft is finished space that houses a professional office suite and two residential apartments, each with private entrances. There is a 1-bedroom apartment on the first floor, and a 2nd floor 3-beroom. The rest of the main building is an annex with two large storage or workshop spaces. In the rear, is a recently improved detached garage with an upper-story loft. Capital improvements include a new garage roof installed in the fall; energy-efficient mechanical upgrades - a new boiler, hot water tanks, and a new oil tank. The garage is leased separately. Ample parking is available, providing the flexibility to augment current and future business or residential needs. The property is serviced by public water and sewer and benefits from favorable zoning within this special district. This location is uniquely positioned to serve the surging demand for housing and parking created by regional job growth at Electric Boat (General Dynamics). Pfizer, Yale-affiliated medical systems, and local colleges are also nearby. This offering combines historical value with immense untapped ROI potential. Bring your vision to this rare, well-located asset.

Highlights

  • Commercial Sale
  • Built in 1947
  • 0.42 Acre Lot
  • 123 days on Market

  • Bathrooms
    3 full · 1 half
  • Year Built
    1947
  • Stories
    3.0
  • Construction Materials
    Frame
  • Foundation
    Stone
  • Parking Features
    Driveway, Paved, Off Street
  • Cooling
    Central Air, Wall Unit(s)
  • Heating
    Electric, Zoned, Hot Water, Oil

  • Acres
    0.42
  • Lot Features
    Level
  • Utilities
    Cable Available, Electricity Available
  • Water
    Public


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Frequently Asked Questions

How do I schedule a tour of 296 Mitchell St?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 296 Mitchell St.

They know commercial sales in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 296 Mitchell St?

Click Ask a Question to talk with our team. You already know it is a N/A bed, 3 bath, listed for $575,000. We can talk through recent upgrades, potential seller motivation, how this commercial sale compares to others in Groton, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 296 Mitchell St?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 296 Mitchell St at around $3,791. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 296 Mitchell St?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in New London County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 296 Mitchell St?

In most cases, yes. Whether 296 Mitchell St is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Groton's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 296 Mitchell St?

We can handle that for you. Our preferred local agent specializes in commercial sales in Groton and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $575,000 with 5,355 sqft of space—that comes out to approximately $107 per square foot.

How long has this property been on the market?

296 Mitchell St was listed on July 15, 2026, which means it's been on the market for 123 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1947, making it approximately 79 years old.

What is the lot size of this property?

296 Mitchell St sits on a 0.42-acre lot, which is 18,295 square feet.

What are the property taxes for 296 Mitchell St?

The most recent public record shows annual property taxes for 296 Mitchell St were approximately $6,231. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 296 Mitchell St still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Listing information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS. Copyright 2026, SmartMLS. All rights reserved.

Last Updated: November 15, 2026 at 04:52PM | Source: SmartMLS | MLS#: 24189342