Class A Multi-Tenant Office
For Sale
$5,450,000
5 Shaws Cove, New London, CT 06320
Two-story Class A office building with elevator access, security system, sprinklers, and updated rooftop HVAC units.
Property Size37,026 SF
Price / SF$148.82
Days on Market151
Property Features for 5 Shaws Cove
General Information
Standard status
Active
Size
37,026 SF
Class
A
Total Parking Spaces
113
Property subtype
Office Medical
Occupancy
87%
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Sprinkler System
Yes
Amenities
elevator
security camera system
sprinkler system
irrigation system
HVAC
fire alarm
Fiber
LED lighting
EV charging stations
85 Percent Occupied Multitenant Medical Office Located in New London MSA | E-Commerce and Recession Proof Tenant Mix, Added Value Through Lease Up
37,475 Square Feet | 1.33 Acres | Major Tenants Include DaVita, Columbia Dental, and Hanger Prosthetics
DaVita has a Investment Grade Credit Rating of BBB- (S&P) | 10-Plus Year Historical Occupancy
Low Basis Entry Point with Staggered Lease Rollover | Rare Opportunity to Acquire Signature, Multitenant Office with Medical and Credit Tenants at Near Full Occupancy
Building Details
Building Size
37,026 SF
Year Built
1987
Stories
2
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Ryan Moore · License #License(s): OH: SAL.2008000382
(216) 264-2038
Source:
Marcusmillichap
Added: Apr 12
Changed: Sep 8
Last Checked: Sep 9 at 5:19AM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
This two-story, black-glass Class A office building is located within Shaw’s Cove Business Park and is currently multi-tenanted, with 10 long-term tenants and 13% vacancy. The building features ADA-compliant access with an elevator, a security camera system, and sprinklers. Updates include new HVAC rooftop units, a fire alarm system, fiber and LED lighting, and a new roof scheduled for installation in spring 2024.
Shaw’s Cove Business Park is in downtown New London and located in a Federal Opportunity Zone and the City’s Enterprise Zone. The property is described as being conveniently located near Amtrak and ferry stations and close to I-95. On-site parking is available for approximately 113 cars, including two EV charging stations, and the grounds are landscaped with an irrigation system.
Building-level amenities and infrastructure include ADA-compliant entry and vertical circulation via elevator, along with modernized building systems and life-safety features. An NDA is required for income and expense information.
Shaw’s Cove Business Park is in downtown New London and located in a Federal Opportunity Zone and the City’s Enterprise Zone. The property is described as being conveniently located near Amtrak and ferry stations and close to I-95. On-site parking is available for approximately 113 cars, including two EV charging stations, and the grounds are landscaped with an irrigation system.
Building-level amenities and infrastructure include ADA-compliant entry and vertical circulation via elevator, along with modernized building systems and life-safety features. An NDA is required for income and expense information.
Key Highlights
- 37,026 SF, two‑story Class A office building in Shaw’s Cove Business Park
- Nearly fully leased with 10 long‑term tenants and 13% vacancy; includes tenants such as DaVita (Gambro), Hanger Prosthetics and Columbia Dental
- ADA‑compliant building access with elevator; security camera system and sprinklers
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
Explore this area
Business Placement
Demographics for 06320, CT
27,398
Population
12,528
Households
2.2
Avg Household Size
34
Median Age
29%
College-Educated
88%
High-School Grad
5.6 sq mi
ZIP Area
4,893
Density / Sq Mi
$60,224
Median Household Income
$34,932
Median Earnings
$1,304
Median Rent
$234,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story Class A office building with elevator access, security system, sprinklers, and updated rooftop HVAC units.
Where is this office building located?
The property is located at 5 Shaws Cove New London, CT.
What is the asking price?
The asking price for this property is $5,450,000.
What are key features of this property?
This property features: 37,026 SF, two‑story Class A office building in Shaw’s Cove Business Park; Nearly fully leased with 10 long‑term tenants and 13% vacancy; includes tenants such as DaVita (Gambro), Hanger Prosthetics and Columbia Dental; ADA‑compliant building access with elevator; security camera system and sprinklers
