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53 Bank St New London, CT 06320

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Mixed-use property with commercial space and apartments in downtown New London.

Property Features for 53 Bank St

General Information

Standard status
Active

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Listing Contact
Connie Howard
Source: Crexi

Listing Agency: US Properties Inc Listing Agent: Connie Howard

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

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Overview

Mixed-Use Building in Downtown

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, totaling 5,112 square feet. The property also includes a 2,556-square-foot basement. The net operating income is approximately $107,329, with potential for increased income by leasing the commercial unit, which had previously been rented for $3,075 per month. This property offers stable cash flow. The property may be purchased as a package with 153 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
Location Intelligence

Current Use by Public Records

The Diamond Bar & Pub

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
New London
County
State
Connecticut
Longitude
-72.094347
Latitude
41.353354

FAQs

What type of property is this?
Mixed-use property - Mixed-use property with commercial space and apartments in downtown New London.
Where is this mixed-use property located?
The property is located at 53 Bank St New London, CT.
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 commercial unit with existing F,F&E** - formerly a restaurant.; - **Stable cash flow with NOI approximately $107,329.**
More about this property
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