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595 Bank St
New London, CT 06320
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 4% Annual Escalations
- Strong Location Surrounded by Density
- Partnered with Largest National Cannabis Company
EXECUTIVE SUMMARY
Higher Collective is a leading adult-use cannabis dispensary operator with five locations across Connecticut, strategically partnered with Curaleaf, one of the largest cannabis companies in the U.S. with $1.3B+ in annual revenues.
- $1M+ in recent upgrades – full renovation & tenant fit-out
- Prime location across from a 140-unit luxury residential development
- Steps from Amtrak, Cross Sound Ferry, and minutes from I-95
- Surrounded by major employers: General Dynamics Electric Boat, U.S. Coast Guard, Social Security Administration, Lawrence + Memorial Hospital
- Located in a federally designated Opportunity Zone
Investment Highlights:
- Stabilized asset generating $107,987 NOI (as of Dec 1)
- Minimal to No landlord responsibilities
- Positioned in a $42B U.S. cannabis market growing 9% annually
- One of only 7 licensed dispensaries in Connecticut
This is a rare chance to invest in a stabilized, income-producing property in one of the nation’s fastest-growing sectors.
- $1M+ in recent upgrades – full renovation & tenant fit-out
- Prime location across from a 140-unit luxury residential development
- Steps from Amtrak, Cross Sound Ferry, and minutes from I-95
- Surrounded by major employers: General Dynamics Electric Boat, U.S. Coast Guard, Social Security Administration, Lawrence + Memorial Hospital
- Located in a federally designated Opportunity Zone
Investment Highlights:
- Stabilized asset generating $107,987 NOI (as of Dec 1)
- Minimal to No landlord responsibilities
- Positioned in a $42B U.S. cannabis market growing 9% annually
- One of only 7 licensed dispensaries in Connecticut
This is a rare chance to invest in a stabilized, income-producing property in one of the nation’s fastest-growing sectors.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
4,440 SF
Building Class
C
Year Built
1929
Price
$1,200,000
Price Per SF
$270.27
Cap Rate
9%
NOI
$107,987
Tenancy
Single
Building Height
1 Story
Building FAR
0.38
Lot Size
0.27 AC
Opportunity Zone
Yes
Zoning
C-1 + Opportunity Zone
Parking
10 Spaces (2.25 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | NLON-000026-000136-000018 | Improvements Assessment | $179,200 |
| Land Assessment | $107,800 | Total Assessment | $287,000 |
PROPERTY TAXES
Parcel Number
NLON-000026-000136-000018
Land Assessment
$107,800
Improvements Assessment
$179,200
Total Assessment
$287,000
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