27 Bank StNew London, CT 06320

Property Details for 27 Bank St

Year built

1875

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

11,676 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NLON M:G12 B:0142 L:0017

APU

NLONMG12B0142L0017

Description

This exceptional commercial property at 27 Bank Street in New London, Connecticut, offers two distinct office/restaurant spaces totaling 5,200 square feet, currently available for lease. The building is situated in the heart of downtown New London, boasting excellent visibility and high foot traffic. One space, located on the street level, encompasses approximately 2,800 square feet and is available for $1,750 per month. A second space, situated on the lower level, offers approximately 2,400 square feet for a monthly rent of $1,250. Both spaces are currently under construction. The property's prime location offers easy access to the Amtrak and ferry station, ensuring convenient transportation for employees and customers. Tenants are responsible for utilities and interior maintenance. This is a fantastic opportunity for businesses seeking a vibrant and accessible location in a thriving downtown area. The property is classified as a storefront with multiple tenancy options and is located in New London County, Connecticut, zip code 06320. The building is currently entirely vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $2,837,676

  6.5%

  $2,619,393

  7%

  $2,432,293

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,844,477

  Geo Method

  $3,844,477

• Alternative Use

  Use

  Valuation

  Residential

  $2,209,556

  Hospitality

  $2,023,941

  Educational

  $1,683,895

  Medical

  $1,741,807

  Retail

  $2,619,393

Location Insight

City

New London

County

New London

State

Connecticut

Latitude

41.3537

Longitude

-72.0943

CBSA code

35980

CBSA name

NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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