Building Details

Year Built 1972

Listing Agency: Berkshire Hathaway NE Prop. k***@bhhsne.com Show Phone

Listed By: Whitney Easton · License #RES.0835455 Show Phone

Source: Exprealty

Added: Jan 29 Changed: Sep 3 Last Checked: Sep 6 at 12:38PM

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Investment Insights

Based on property information with market context.

This former bank property at 43 Pennsylvania Avenue was constructed in 1972 and offers a versatile commercial footprint. The building includes ADA-compliant entrances and is supported by robust utilities, including a 300-amp, 3-phase electrical service. A central heat and air conditioning system was installed in 2022, providing a modern HVAC base for a wide range of tenant and adaptive reuse concepts.

The site includes ample on-site parking and asphalt paving, supporting straightforward customer and employee access in a walkable downtown setting in Niantic.

As of July 10, 2025, zoning regulation updates for the CB District are described as significantly more supportive of commercial and mixed-use development, with expanded flexibility, broader permitted uses, clearer dimensional standards, and additional support for mixed-use development in both new and existing structures. The zoning changes also reference several use categories permitted by right and new special permit uses, along with increased front yard setback flexibility.

Key Highlights

• Approximately 3,065 SF former bank building on a 0.79‑acre parcel in downtown Niantic, with ample on‑site parking and asphalt paving
• 300‑amp, 3‑phase electrical service and ADA‑compliant entrances
• Central heat and air conditioning system installed in 2022

Property Analytics

Property Profile

Current Use

Citizens Bank Citizens ATM Atm

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Auto Repair Shop Furniture & Home Goods Barber Shop Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

NNN (Triple Net)

Lease Type

Location Intelligence

Trade Area within ½ mile

434

Businesses Nearby

Explore this area Business Placement

Demographics for 06357, CT

11,404

Population

6,042

Households

1.9

Avg Household Size

52

Median Age

46%

College-Educated

96%

High-School Grad

10.6 sq mi

ZIP Area

1,076

Density / Sq Mi

$98,852

Median Household Income

$61,250

Median Earnings

$1,476

Median Rent

$369,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this banks located? What is the lease rate? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Bank - Bank building on a paved, parking-ready site with ADA-compliant entrances and central heat and air installed in 2022.

Where is this bank located?

The property is located at 43 Pennsylvania Ave Niantic, CT.

What is the lease rate?

The lease rate is $1,125,000.

What are key features of this property?

This property features: Approximately 3,065 SF former bank building on a 0.79‑acre parcel in downtown Niantic, with ample on‑site parking and asphalt paving; 300‑amp, 3‑phase electrical service and ADA‑compliant entrances; Central heat and air conditioning system installed in 2022