Mixed-Use Building in Downtown New
53-55 Bank St New London, CT 06320
For Sale
$1,625,000
Mixed-use property with commercial unit and apartments in downtown.
Property Size10,636 SF
Price / SF$152.78
Days on Market95
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
Listing Agency:
U.S. Properties Real Estate Services, LLC
(615) 293-3878
Listed By:
Constance Howard · License #RES.0798067
(615) 293-3878
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Jul 29 at 12:42PM
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
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
Current Use
Frequently Asked Questions
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.
