21 Pawcatuck Avenue
Stonington, Connecticut 06379
- Beds
- 0
- Baths
- 0
- SqFt
- —
- Acres
- 5.24
- Neighborhood
- Pawcatuck
- Property Type
- Land
Matt Caiola
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About This Home
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.
Key Facts
- City/Town
- Stonington
- Neighborhood
- Pawcatuck
- Property Type
- Land
- Days on Market
- 0 days
- Beds
- 0
- Baths
- 0 baths
- Lot Size
- 5.24 acres
- Property Taxes
- $8,735 / Annually
Market Snapshot
The Stonington Market
Land · trailing 12 months
Active Listings
16
7 under contract
Median List Price
$970,000
16 active listings
Median Closed Price
$225,000
17 sales
Median Days on Market
110
16 active listings
Median $ / Sq Ft
--
16 active listings
Sale-to-List Ratio
94.7%
17 sales
How this home compares
List Price
$3.80M
vs $970,000 median
3.9× the median
Price / Sq Ft
--
Median unavailable
Limited comparable data
Days on Market
0 days
vs 110 days median
110 days fresher than median
Based on 16 active and 17 closed sales (trailing 12 mo) of land in Stonington. Source: SmartMLS · As of July 31, 2026.
Location
21 Pawcatuck Avenue, Stonington, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Jul 30, 2026per month
- Principal & Interest$19,536
- Property Taxes$728
- Insurance$1,267
- HOA$0
Estimates only. Actual rates, taxes, insurance, and HOA fees vary. Consult a lender for current rates.
Location
- City/Town
- Stonington
- Neighborhood
- Pawcatuck
- County
- New London
Residence
- Property Type
- Land
- Subtype
- SingleFamilyResidence
Schools
- Elementary
- Per Board of Ed
- High
- Stonington
Exterior & Lot
- Lot Size
- 5.24 acres
- Zoning
- MC-80
- Waterfront
- Direct waterfront
- Water Source
- Public Water In Street
- Sewer
- Public Sewer In Street
- Lot Description
- Water View
Listing & Financials
- Property Taxes
- $8,735 / Annually
- Days on Market
- 0
- MLS #
- 24195924
- MLS Status
- Active
Similar Properties
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This information is believed to be accurate, but without warranty.
The IDX display contains information sourced from SmartMLS, Inc. as of 7/31/2026. This information is provided 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 or leasing. Data is deemed reliable but is not guaranteed accurate by the MLS, the listing broker, the listing agent, or Matt Caiola. Buyers and tenants should independently verify all information that matters to their decision.
Map locations may be approximate. Any offer of compensation, if applicable, is made only to participants of the MLS where the listing is filed. ©2026 Smart MLS, Inc. All rights reserved.
Data last updated on 7/31/2026 at 11:05 PM UTC.