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    458 Ocean Ave New London, CT 06320

    For Sale
    $260,000

    996 SF commercial building with two drive-throughs in New London.

    Property size:
    996 SF
    Lot size:
    0.21 Acres

    Property Features for 458 Ocean Ave

    General Information

    Size
    996 SF
    Lot size
    0.21 Acres

    Source: Coldwell Banker Realty - East Lyme/Mystic Agent Rick Loranger

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Freestanding Commercial Building with Drive-Through

    This is a freestanding 996 SF commercial building featuring two drive-through lanes. The property was previously used as a restaurant/cafe and a bank. It is located in close proximity to Yale New Haven Hospital, colleges, and Ocean Beach. Situated on a highly visible corner, the property offers frontage on both Ocean Avenue and School Street. The parking lot accommodates 6 cars, with additional on-street parking available. Zoned 'Neighborhood Business', the property is suitable for many retail and commercial uses. It would make a great take-out or drive-through restaurant.
    Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New London
    County
    State
    Connecticut
    Longitude
    -72.104274
    Latitude
    41.333532

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    FAQs

    What type of property is this?
    Drive through restaurant - 996 SF commercial building with two drive-throughs in New London.
    Where is this drive through restaurant located?
    The property is located at 458 Ocean Ave New London, CT.
    What is the asking price?
    The asking price for this property is $260,000.
    What are key features of this property?
    This property features: - Highly visible corner location with frontage on Ocean Avenue and School Street.; - Freestanding 996 SF commercial building with **two drive-throughs**.; - Zoned 'Neighborhood Business' allowing for many retail and commercial uses.
    (860) 933-8565
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    458 Ocean Ave New London, CT 06320
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    458 Ocean Ave New London, CT 06320
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