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A Rare Mixed Use Offering with River Access in the Heart of Old Lyme Village. Set in the center of Old Lyme Village, this storied 1897 landmark, originally the James Bugbee Store offers a compelling opportunity to reimagine a historic property as a refined live/work compound or gallery driven residence. The flexible zoning allows for both residential and commercial use, making it particularly well suited for those seeking a seamless integration of business, creativity, and home. Positioned on an expansive parcel within the desirable Turtle Fields Association, the property includes shared dock access to the Lieutenant River, an exceptional amenity that brings the water directly into daily life and elevates the overall experience of the setting. The grounds are a defining feature, with three separate barns, a storage structure, and a generous yard creating a rare framework for a thoughtfully designed compound. Whether envisioned as a primary residence paired with a studio or gallery, a boutique workspace with private living quarters, or a creative retreat, the configuration supports both lifestyle and function. Inside the structure reflects its late 19th century origins, offering scale, character, and an open layout ready for purposeful transformation. Just moments from the Village's cultural landmarks, including the Florence Griswold Museum, Old Lyme Inn, the Cooley Gallery, and the Lyme Academy of Fine Arts, all in a setting long embraced by artists and collectors. Life here unfolds with ease, morning coffee at Coffee's Country Market, a stroll through town, and evenings shaped by the shoreline's quiet rhythm. Local favorites such as The Hangry Goose, Old Lyme Inn, and Bowerbird bring a sense of familiarity and charm, while nearby antique shops and everyday conveniences are seamlessly woven into Village life. Beyond the Village, miles of nearby beaches, access to the Connecticut River, and proximity to Long Island Sound create a lifestyle centered around the water, boating, beach days, and sunset views all within easy reach. Positioned approximately two hours from both Boston and New York City, Old Lyme offers a rare balance of coastal tranquility and accessibility.
| Type | Description | Dimensions | Level |
|---|---|---|---|
| Bedroom 1 | 9 ft+ Ceilings,Book Shelves,Half Bath,Hardwood Floor | 19.5 x 14.0 | Upper |
| Bedroom 2 | Built-Ins,Hardwood Floor | 12.6 x 8.2 | Upper |
| Dining Room | Balcony/Deck,Built-Ins,French Doors,Patio/Terrace,Sliders,Hardwood Floor | 11.0 x 18.0 | Main |
| Family Room | 9 ft+ Ceilings,Hardwood Floor | 18.1 x 27.6 | Upper |
| Great Room | Bay/Bow Window,9 ft+ Ceilings,Ceiling Fan,Hardwood Floor | 36.5 x 27.6 | Main |
| Kitchen | Double-Sink,Vinyl Floor | 9.1 x 14.4 | Main |
| Loft | 9.9 x 10.5 | Upper | |
| Office | Built-Ins,Hardwood Floor | 6.1 x 6.1 | Main |
| Other | Hardwood Floor | 11.6 x 11.1 | Upper |
| Primary Bedroom | Hardwood Floor | 12.0 x 15.0 | Upper |
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Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $959,200 | $959,200 | $959,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.235% | 6.058% |
| Monthly Tax Payment | $871 | $871 | $871 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,371 | $5,828 | $8,030 |
| Total Monthly Payment | $6,367 | $6,824 | $9,026 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.