Log In/Sign Up
Your email has been sent.
53-57 Bank St 10,636 SF 100% Leased Retail Building New London, CT 06320 $1,950,000 ($183.34/SF) 5.50% Cap Rate
Executive Summary
Mixed Use Property with 1 commercial unit and 8 apartments located in the heart of downtown New London.
This 10,636 SF, 3 story building has 1 commercial 2,556 SF unit on the ground level. Formerly ‘Daimond Pizza’ the restaurant space is currently vacant and turnkey-ready with F,F&E.
There are 8 apartments on the 5,112 SF second and third floors. There is a 2,556 SF basement.
NOI approximately $107,329. Room to increase NOI leasing the commercial unit which had been paying $3,075 / month.
Call office for financials.
Excellent investment property with stable cash flow. Property may be purchased as a package with 153 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
This 10,636 SF, 3 story building has 1 commercial 2,556 SF unit on the ground level. Formerly ‘Daimond Pizza’ the restaurant space is currently vacant and turnkey-ready with F,F&E.
There are 8 apartments on the 5,112 SF second and third floors. There is a 2,556 SF basement.
NOI approximately $107,329. Room to increase NOI leasing the commercial unit which had been paying $3,075 / month.
Call office for financials.
Excellent investment property with stable cash flow. Property may be purchased as a package with 153 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
10,636 SF
Building Class
C
Year Built
1897
Price
$1,950,000
Price Per SF
$183.34
Cap Rate
5.50%
NOI
$107,329
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
8’
Building FAR
2.22
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
CBD-1 - Central Business District
Frontage
46’ on Bank St
Walk Score®
Walker's Paradise (90)
Property Taxes
| Parcel Number | NLON-000028-000142-000019 | Improvements Assessment | $744,500 |
| Land Assessment | $87,200 | Total Assessment | $831,700 |
Property Taxes
Parcel Number
NLON-000028-000142-000019
Land Assessment
$87,200
Improvements Assessment
$744,500
Total Assessment
$831,700
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
53-57 Bank St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.