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224 Bank St, New London, CT 06320
Four connected buildings totaling 48,843 SF in New London.
Property Size48,843 SF
Price / SF$76.78
Days on Market667
Property Features for 224 Bank St
General Information
Standard status
Active
Size
48,843 SF
Class
C
Property subtype
Office, Retail, Special Purpose
Zoning
CBD-1 (Central Business District)
Occupancy
71%
Lease Type
Modified Gross
Building Details
Buildings
4
Tenancy
Multi
Listing Agency:
Londregan Commercial Real Estate Group
Listed By:
James Gillanders · License #CT 0805707
(860) 444-8811
Source:
Crexi
Added: Nov 6, 2024
Changed: Aug 8
Last Checked: Aug 31 at 6:14PM
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 Londregan Commercial Real Estate Group
Investment Insights
Based on property information with market context.
The subject property comprises 48,843 square feet across four connected buildings. Building 1, a fully renovated and occupied one-story lab/warehouse at the corner of Bank Street and Bank Street Connector, totals 6,510 square feet and connects directly to Buildings 2 and 3. Building 2, a two-story office building fronting Bank Street, contains 6,409 square feet and is currently vacant, requiring renovation. Building 3, situated towards the rear at the Bank Street Connector entrance, is a 25,252 square foot three-story office/medical office building with full occupancy and maintained condition. Building 4, located towards the rear of the site's interior, is a 9,672 square foot two-story office building with partial occupancy on the first floor and a fully renovated, currently vacant second floor. All buildings except Building 2 have elevator access. The property benefits from ample parking at a traffic-lit intersection and is located within an Enterprise Zone and an Opportunity Zone.
Key Highlights
- Fully occupied and renovated lab/warehouse building (6,510 SF) and three‑story office/medical building (25,252 SF) providing immediate income.
- Located in an Enterprise Zone and Opportunity Zone, offering potential tax benefits and investment incentives.
- Ample parking at a traffic‑lit intersection, enhancing accessibility.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,657
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
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Frequently Asked Questions
What type of property is this?
Office building - Four connected buildings totaling 48,843 SF in New London.
Where is this office building located?
The property is located at 224 Bank St New London, CT.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Fully occupied and renovated lab/warehouse building (6,510 SF) and three‑story office/medical building (25,252 SF) providing immediate income.; Located in an Enterprise Zone and Opportunity Zone, offering potential tax benefits and investment incentives.; Ample parking at a traffic‑lit intersection, enhancing accessibility.
