Stonington, CT Former Citizens Bank

46 West Broad Street
Property Type Retail
Building Size 2,862 SF
Land Area 0.4 AC
Status Under Contract
Property Highlights

Highly visible retail site: The Property is a former Citizens Bank branch location within the Village of Pawcatuck in the town of Stonington, Connecticut. The site benefits from good street visibility in the immediate Downtown area off Broad Street combined with a public parking lot behind the Property near the intersection of Mechanic Street and West Broad Street.

Near area shopping centers: Across the Pawcatuck River lies the town of Westerly, Rhode Island. Multiple shopping centers sit within a three-mile radius of the site, including Granite Hills Shopping Center and Westerly Crossings Shopping Center. Nearby national shopping center tenants include ALDI, JCPenney, TJ Maxx, PetSmart, Staples, Home Depot, Family Dollar, Michael’s and more. There are also a host of other local and community banking institutions in the surrounding area, including: Chelsea Groton Bank, Savings Institute Bank & Trust, People’s United Bank, Charter Oak Federal Credit Union and Community Credit Union.

Within larger New London County: The Village of Pawcatuck is a part of the larger town of Stonington, which is located in the state of Connecticut’s southeastern corner on the border with neighboring Rhode Island. In recent decades, Stonington has experienced a large influx of new home owners using historic borough houses as second homes, which strengthen’s the area’s economic base. Stonington is included in the Norwich-New London, CT MSA, which is also included in the Hartford-West Hartford, CT MSA.

The population within five miles of the Property is nearly 38,000, and the average household income is approximately $95,509, signaling a large concentration of wealth in the immediate area.