WATERFORD, CT— A unique waterfront hospitality property with significant development upside has hit the market in Waterford, Connecticut. Marina Bay Cottages, located at 334 Rope Ferry Road, is being offered for sale at $5.5 million, presenting an exceptional opportunity for investors, hoteliers, or developers seeking a well-established seasonal lodging business with future expansion potential.
Situated on nearly 14 acres overlooking Niantic Bay, Marina Bay Cottages currently includes 28 total cottages, with 22 fully operational units run under a hotel license. These cottages—ranging from 286 to 1,000 square feet—feature a mix of studio, one-bedroom, and two-bedroom layouts, many with private porches, kitchenettes or full kitchens, air conditioning, and modern amenities.
Over the past two years, the property has undergone more than $1.3 million in capital improvements, including:
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Renovation of 22 cottages
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Upgraded electrical infrastructure
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New landscaping
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Installation of a pea stone driveway with stone curbing
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Addition of a new clubhouse for guest use.
Operating seasonally from April to November, Marina Bay Cottages offers both direct and third-party booking options. The guest experience is enhanced by self check-in/out, Wi-Fi, smart TVs, laundry and cleaning services, ample parking, and a playground. Guests also enjoy complimentary beach access, with the property located just under one mile from downtown Niantic’s restaurants, shops, boardwalk, marinas, and museums.
Expansion and Development Potential
The offering includes the adjacent 0.59-acre parcel at 334R Rope Ferry Road, and presents multiple value-add opportunities:
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Reactivation of 4 “down” cottages to bring the full 28 units online
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Installation of 2 mobile homes on existing pad sites
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Potential for further expansion under the property’s Waterfront District (WD) zoning, which allows for 8 units per acre
With approximately 8 usable acres, the site could support up to 64 additional units, making it a compelling candidate for a larger hotel operation, condominium development, or apartment complex, while maintaining the current hospitality revenue stream.
Boutique Coastal Investment
“This is a rare opportunity to acquire a turn-key boutique hospitality asset with proven income and significant upside,” said a representative for the listing. “Whether the buyer is looking to expand the lodging business or explore residential development, Marina Bay Cottages offers flexibility in a highly desirable coastal market.”
