Karen Anglim - Andrew Abu Inc Realtors Logo
$3,800,000
 $20,399 est/mo Sourced by Back At You

21 Pawcatuck Avenue,Stonington, CT 06379

Stonington, CT 06379

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Description

The 5.24-acre property features the historic Clark Thread Mill building dating to 1899, just south of the first mill building converted in 2016 into 58 apartments known as The Threadmill. Current owners of the property have obtained approvals for another 58 units in the available building, with at least 58 more units indicated by the town as readily approvable on the vacant land. The property comes with State grant money of $4M to $6M to totally rehabilitate the building, State tax credits in the amount of $4.5M, and unlimited Federal tax credits of 20% of post-rehab construction costs, estimated to be another $6M. State tax credits can be available as cash upon completion of the project, while Federal tax credits can be purchased by tax credits investors for cash or rolled into a construction bridge loan.

Details

MLS #24195924
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site66
Listing Provided ByAcademic Co-Realty Services | Gregory Walwer

Features

ZoningMC-80
Acreage5.24
Water FrontYes

Utilities

Utilities AvailableCable, Electric, Gas, Telephone
Sewage SystemPublic Sewer In Street

Taxes

Tax YearJuly 2026-June 2027
Property Tax9183

Area Information

StateCT
CountyNew London
CityStonington
Zip Code06379
AreaPawcatuck
School DistrictPer Board of Ed
Elementary SchoolPer Board of Ed
High SchoolStonington
Listing VS Median (in 06379)
Price:
$3,800,000
low | high
Med:
$450,000
100% of Average
On site:
66
low | high
Med:
17
100% of Average
Sourced by Back At You

Market Activity 06379

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Contact

Learn More About This Property

Karen Anglim

Karen Anglim

Andrew Abu Inc

957618 (508) 277-6209karen@andrewabu.com
StateCT
CountyNew London
CityStonington
Zip Code06379
AreaPawcatuck
School DistrictPer Board of Ed
Elementary SchoolPer Board of Ed
High SchoolStonington
Listing VS Median (in 06379)
Price:
$3,800,000
low | high
Med:
$450,000
100% of Average
On site:
66
low | high
Med:
17
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $2.85M - $4.75M
sqft: 0 - 0
Nearby Listings Property ImageNearby Listings Details
34 Lanphere Road Property Photo 1
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Listing Updated: September 29, 2026 at 8:31:32 AM PDT