27 Broad St 5,891 SF 100% Leased Office Building New London, CT 06320 $899,000 ($152.61/SF) 5.73% Cap Rate

Dental-anchored 5-unit mixed-use in downtown New London, 100% leased, at $899,000 — 5.73% in-place cap, 8.20% proforma. The ground-floor dental practice pays $53,082/yr, covering 93% of the building's $56,897 operating expenses, so nearly every dollar of apartment rent drops to NOI.
Residential rents run 40% below market: $58,200 in place vs. $81,600 proforma, a $23,400 annual gap across just four units. Unit 2R is a 2BR renting at $1,200 while the identical 2BR on the same floor is at $1,500 and market supports $1,800 — a $600/month swing in one unit. Executing the proforma adds $22,230 of NOI, roughly $300K of value at a 7.5% cap, with stabilized value near $1,052,000 against a $899,000 ask.
Two 2BR/1BA on the second floor and two 1BR/1BA on the third, heat and hot water included and already underwritten. Walkable to Union Station, the waterfront, and downtown. Full financial summary on request; figures are estimates subject to buyer's independent due diligence.