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.