53-55 Bank St New London, CT 06320

Building Details

Year Built

1897

Listing office U.S. Properties Real Estate Services, LLC c***@gmail.com Show Phone

Listing date Apr 27, 2026

Source Elliman

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

All listing content including descriptions, pricing, images are the copyrighted material of U.S. Properties Real Estate Services, LLC

Report an issue

---

Investment Insights

Based on property information with market context.

This mixed-use property is located in downtown New London and features one commercial unit and eight apartments. The three-story building has a total area of 10,636 square feet. The ground floor includes a 2,556-square-foot commercial unit, formerly a restaurant, which is currently available and turnkey-ready with furniture, fixtures, and equipment. The second and third floors house eight apartments within a 5,112-square-foot area. The property also includes a 2,556-square-foot basement. The net operating income is approximately $107,329, with potential to increase by leasing the commercial unit, which previously generated $3,075 per month. This property offers stable cash flow. The location has a walk score of 91, indicating it is a walker's paradise, a bike score of 49, indicating it is somewhat bikeable, and a transit score of 36, indicating some transit options are available. The property may be purchased as a package with other nearby properties.

Key Highlights

• Mixed‑use property in downtown New London with 1 commercial unit and 8 apartments.
• Turnkey‑ready 2,556 SF commercial unit (formerly Diamond Pizza) with F,F&E.
• Stable cash flow with NOI approximately $107,329; potential to increase NOI by leasing the commercial unit.

Property Analytics

Property Profile Location Intelligence

Similar For Sale Nearby

• 

  $2,650,000

  11,204 SF

  Charming Historic Seaside District Hotel

  Boutique hotel in New London's historic seaside district.

  17 Park Street, New London, CT 06320

  View Details
• 

  $550,000

  5,000 SF

  Triplex with Three Townhouse Rentals

  Residential income property with three townhouse-like rental units on a 0.36-acre lot.

  49 Chappell Street, New London, CT 06320

  View Details
• 

  $475,000

  4,728 SF

  Downtown Restaurant Building with Patio

  Well-maintained building offers two configured units with an attached patio, currently leased to a single restaurant tenant.

  200 Bank Street, New London, CT 06320

  View Details
• 

  $350,000

  2,244 SF

  Two-Family Home With Adjacent Lot

  Two-family residence with tenant-occupied month-to-month leases and recent mechanical updates, plus an adjacent lot.

  57 Garfield Avenue, New London, CT 06320

  View Details
• 

  $1,400,000

  7,023 SF

  Historic Mixed-Use Waterfront Property

  Historic mixed-use property in downtown New London's Bank Street district.

  109-111 Bank St, New London, CT 06320

  View Details
• 

  $2,800,000

  Downtown New London Office/Retail Building

  Five-story office/retail building in downtown New London with renovation.

  153 State St, New London, CT 06320

  View Details
• 

  $2,650,000

  11,204 SF

  Boutique Seaside Hotel

  Charming, independently decorated rooms near Ocean Beach Park offer a distinctive coastal stay in New London’s seaside district.

  17 Park Street, New London, CT 06320

  View Details
• 

  $475,000

  4,728 SF

  Downtown New London Commercial Building

  Prime commercial building with income and development potential.

  200 Bank Street, New London, CT 06320

  View Details
• 

  $250,000

  996 SF

  Freestanding Commercial Building with Drive-Throughs

  Commercial building with two drive-throughs, suitable for restaurant or retail.

  458 Ocean Ave, New London, CT 06320

  View Details
• 

  $599,000

  7,110 SF

  Mixed-Use Office and Warehouse Building

  Three-story mixed-use property with ground-floor office/warehouse space and two residential units above, including gated commercial vehicle parking.

  24-26 Montauk Avenue, New London, CT 06320

  View Details
• 

  $399,900

  5,146 SF

  Multi-Use Religious and Community Building

  Spacious church building with a basement kitchen, multiple meeting rooms, and a brand-new boiler for flexible occupancy.

  236 Montauk Avenue, New London, CT 06320

  View Details
• 

  $250,000

  Three-Family with Hardwood Floors

  Three-family income property with hardwood floors, natural gas, and both on- and off-street parking.

  205 Crystal Ave, New London, CT 06320

  View Details

FAQs

What type of property is this?

Mixed-use property - Mixed-use property with commercial unit and apartments in downtown.

Where is this mixed-use property located?

The property is located at 53-55 Bank St New London, CT.

What is the asking price?

The asking price for this property is $1,625,000.

What are key features of this property?

This property features: Mixed‑use property in downtown New London with 1 commercial unit and 8 apartments.; **Turnkey‑ready 2,556 SF commercial unit (formerly Diamond Pizza) with F,F&E.**; Stable cash flow with NOI approximately $107,329; potential to increase NOI by leasing the commercial unit.