Marina Bay Cottages

Waterford, Connecticut is a picturesque coastal town located in New London County, nestled along the shores of Long Island Sound. Known for its scenic beauty, rich maritime history, and welcoming suburban atmosphere, Waterford offers a unique blend of small-town charm and modern convenience. The town is bordered by the city of New London to the east and enjoys easy access to major highways, making it an ideal location for commuters and visitors alike. Waterford is home to several natural attractions, including Harkness Memorial State Park, a historic estate with sweeping ocean views and beautifully landscaped gardens, and the Niantic River, popular for boating and fishing. The town also hosts the Eugene O’Neill Theater Center, a renowned institution dedicated to the development of new works in American theater. With a strong public school system, diverse recreational options, and a mix of residential neighborhoods and commercial areas, Waterford offers a high quality of life for families, retirees, and professionals seeking a peaceful yet well-connected New England community. In addition to its natural beauty and cultural offerings, Waterford boasts a thriving local economy supported by retail, healthcare, education, and tourism. The Crystal Mall, one of southeastern Connecticut’s largest shopping centers, serves as a commercial hub for residents and visitors in the region. Nearby, large employers such as Dominion Energy’s Millstone Power Station and Lawrence + Memorial Hospital contribute to job growth and economic stability. The town’s proximity to major employers in Groton and New London also enhances its appeal for working professionals. Waterford’s careful zoning and planning efforts help maintain its blend of open space, residential neighborhoods, and business districts, allowing for sustainable growth while preserving its coastal character.The Marina Bay Cottages is comprised of 28 units, of which 22 cottages are currently operational and are running under a hotel license. The cottages sit on nearly 14-acres overlooking the Niantic Bay and downtown district. The property features studio, one bedroom and two-bedroom style cottages ranging from 286-1,000 SF. Each style has slight variations including kitchen/ kitchenette, private porches, air conditioning, heat, and additional bedding options. The property has undergone extensive updates over the past two years including 22 fully renovated cottages, upgraded electrical service to the property, landscaping, a new pea stone driveway with stone curbing throughout and a new common clubhouse for guests to enjoy. Currently the property operates seasonally from April-November. Bookings can be made directly through their website as well as third-party sites. The property is currently fully serviced with laundry/cleaning service, features self-check-in/check-out, WIFI, smart TV’s playground and ample parking. The Marina Bay Cottages are located, less than one mile from the Niantic Bay and downtown district which has numerous restaurants, shops, beaches, a boardwalk, marinas, museums and state parks. All stays come with local beach access to enjoy Waterford’s popular beaches. There is an opportunity for added income through further cottage additions with the ability to bring 4 “down” cottages online, and addition of 2 mobile homes on existing pad sites. In addition to the cottage rentals, the property presents additional development opportunities in a desirably zoned Waterfront District (WD). Currently there are approximately ~ 8 usable acres which can be used to expand the number of cottages onsite (hotel use) or can be further development for apartments or condominiums. By right, zoning allows for 8 units/acre which would equate approximately a 64-unit project in addition to existing structures. This property is also being sold with the adjacent parcel 334R Rope Ferry Road, which is a 0.59 acre parcel.