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Mixed-Use Building in Downtown New London

53-55 Bank St, New London, CT 06320

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For Sale

$1,625,000

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

Type:Multi Family

Property size:

10,636 SF

Price / SF:

$152/SF

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.
Excellent location with a Walk Score of 91 (Walker's Paradise).
Eight apartments on the second and third floors (5,112 SF).
Opportunity to purchase as a package with two other properties for a total of 6 commercial units and 17 apartments.

We can help!

Listing Contact

Constance Howard

Learn more

For Sale

$1,625,000

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

Type:Multi Family

Property size:

10,636 SF

Price / SF:

$152/SF

Added:: Apr 27, 2026
Days on Market:: 49
Last Refresh:: Apr 27 at 7:56 pm

Property Features for 53-55 Bank St

General Information

Standard status: Active
Size: 10,636 SF
Property subtype: Multi Family

Building Details

Year Built: 1897

We can help!

Listing Contact

Constance Howard

Listing agent Constance Howard License #RES.0798067

Listing office US Properties

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 US Properties

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.
Excellent location with a Walk Score of 91 (Walker's Paradise).
Eight apartments on the second and third floors (5,112 SF).
Opportunity to purchase as a package with two other properties for a total of 6 commercial units and 17 apartments.

Overview

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.

Location Intelligence

Current Use by Public Records

Mixed-use properties

Suggested Use

Location Insight

Map
Local Demand

City: New London
County
State: Connecticut
Longitude: -72.094347
Latitude: 41.353354

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For sale
Mixed-use properties
CT
New London
06320
53-55 Bank St

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.

53-55 Bank St, New London, CT 06320

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

Property Features for 53-55 Bank St

General Information

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Charming Historic Seaside District Hotel

Downtown Commercial Building with Patio

Professional Condominium For Sale

Four-Family Residential Income Property

Turnkey Three-Family Income Property

Downtown New London Commercial Building

Historic Mixed-Use Building For Sale

New London Two-Family Property

Downtown New London Office/Retail Building

Boutique Seaside Hotel

Freestanding Commercial Building with Drive-Throughs

Downtown New London Office/Retail Building

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