369 Bank St New London, CT 06320
- Retail properties
- 10,184 SF
Current Use by Public Records
- Retail properties
Property Details for 369 Bank St
- Year built
- 1900
- Property size
- 10,184 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional two-story, 10,184 square foot multi-tenant retail building is located at 369 Bank Street in the heart of New London, Connecticut (zip code 06320). Built in 1900, the property boasts two 5,092 square foot floors, each currently occupied. The first floor is fully leased, with one tenant contributing $1,000 per month in rent. The second floor houses a gym, generating $1,350 monthly in rent, and a second tenant paying $1,150 monthly. This provides a strong, consistent income stream for the investor. The second floor also features a convenient drive-thru door in the rear of the building, offering additional access beyond the front stairs. This versatile property presents a significant opportunity for investors seeking a stable, income-producing asset in a vibrant downtown location. Owner financing is available, making this an even more attractive proposition. The property is categorized as a storefront, clothing store, and gym, reflecting its diverse tenant base and adaptability. This is a rare opportunity to acquire a well-situated, income-generating property in a desirable Connecticut location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- New London
- County
- New London
- State
- Connecticut
- Longitude
- -72.099
- Latitude
- 41.3509
