For sale

$1,250,000

224 Shore Road, Old Lyme, CT 06371

4beds

1,698sqft

Est.:

Multi Family

Built in 1928

-- sqft lot

$-- Zestimate^®

$736/sqft

$-- HOA

What's special

Investment Opportunity! Multi use property. Approved Permit for Storage Units. The "holy grail" of passive income! Property includes a Multi family house with 2 rental units in place and monthly income of approx $3400/ month. Back portion of lot permitted for up to 14,000 Sq Ft of storage units with office space. Full approval and plans for four storage buildings ranging in size from 1800-4200 sq ft. One of four buildings to have a shop/office. This is the last available space in Old Lyme in which storage space can be built. Easy to build on, level open space. Sit back and earn money! Buyer/Buyer's agent to do due diligence. Permits are valid for 9 years with an option to extend past that an additional 5 years. See also commercial MLS#24124118

131 days

518

12

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 2
Full bathrooms: 2

Heating

Hot Water, Oil

Cooling

None

Appliances

Included: Water Heater

Features

Basement: Partial,Unfinished
Attic: None
Has fireplace: No

Interior area

Total structure area: 1,698
Total interior livable area: 1,698 sqft
Finished area above ground: 1,698

Property

Parking

Parking features: None

Lot

Size: 1.7 Acres
Features: Level

Details

Parcel number: 1550900
Zoning: C-30

Construction

Type & style

Home type: MultiFamily
Architectural style: Units on different Floors
Property subtype: Multi Family

Materials

Vinyl Siding
Foundation: Concrete Perimeter
Roof: Asphalt

Condition

New construction: No
Year built: 1928

Utilities & green energy

Sewer: Septic Tank
Water: Public

Community & HOA

HOA

Has HOA: No

Location

Region: Old Lyme

Financial & listing details

Price per square foot: $736/sqft
Tax assessed value: $198,700
Annual tax amount: $3,225
Date on market: 9/10/2025

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
9/10/2025	Listed for sale	$1,250,000+509.8%$736/sqft
Source: Smart MLS #24125637 Report a problem
3/24/2021	Listing removed	--
Source: Owner Report a problem
4/13/2019	Listing removed	$1,500$1/sqft
Source: Owner Report a problem
3/12/2019	Listed for rent	$1,500$1/sqft
Source: Owner Report a problem
11/1/2018	Sold	$205,000+64%$121/sqft
Source: Public Record Report a problem