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    Property profile & analytics

    653 Bank St New London, CT 06320-5043

    • Showrooms
    • 7,746 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimation
    $250,000
    Location Intelligence
    Property ID
    US15-0909985
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Showrooms

    Property Details for 653 Bank St

    Year built
    1925
    Construction
    FRAME
    Lot size
    0.13 lot acres
    Property size
    7,746 SF
    Property type
    Showrooms
    APN
    NLON M:E14 B:0136 L:0024
    APU
    NLONME14B0136L0024

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $255,000

    • CAP approach

      CAP return
      Estimation
      6%
      $235,000
      6.5%
      $225,000
      7%
      $225,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $235,000
      Geo Method
      $225,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $260,000
      Retail
      $245,000
      Mixed-Use
      $250,000
      Hospitality
      $255,000
      Educational
      $240,000
      Residential Income
      $240,000
      Energy
      $260,000
      Income-Based Land
      $225,000
      Food Service
      $205,000

    Location Insight

    • Map
    • Local Demand
    City
    New London
    County
    New London
    State
    Connecticut
    Longitude
    -72.1039
    Latitude
    41.3499
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,826
    $61,390
    $142,240
    $203,630
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      88,070 SF

      6 Shaws Cv

      SHOW ROOM, WAREHOUSE • 88,070 SF
      6 Shaws Cv, New London, CT 06320-4969
      View Details
    • Value Estimation by Request
      70,158 SF

      3 Shaws Cv

      SHOW ROOM, WAREHOUSE • 70,158 SF
      3 Shaws Cv, New London, CT 06320-4952
      View Details
    • Value Estimation by Request
      36,911 SF

      78 Viets St

      SHOW ROOM, WAREHOUSE • 36,911 SF
      78 Viets St, New London, CT 06320-3354
      View Details
    • Value Estimation by Request
      9,870 SF

      17 Brewer St

      SHOW ROOM, WAREHOUSE • 9,870 SF
      17 Brewer St, New London, CT 06320
      View Details
    • Value Estimation by Request
      32,512 SF

      488 Colman St

      SHOW ROOM, WAREHOUSE • 32,512 SF
      488 Colman St, New London, CT 06320-3739
      View Details
    • Value Estimation by Request
      2,381 SF

      56 Huntington St

      SHOW ROOM, WAREHOUSE • 2,381 SF
      56 Huntington St, New London, CT 06320-6113
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,459 SF

      Mixed-Use Space in Downtown Location

      Office or retail spaces available in a high-traffic downtown area.
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      Downtown New London Mixed-Use Gem

      Prime location, 11,656 SF, development ready.
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    • $1,200,000

      Retail Property For Sale

      Retail property available for purchase in New London, CT.
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    • Contact for pricing
      2.00 Acres

      New London Commercial Land Assemblage

      Four-acre redevelopment opportunity in prime location.
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    Similar Nearby for Lease

    • $2,500 /Mo
      1,500 SF

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      Recently renovated retail space in downtown New London.
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    • $1,750 /Mo
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    • $3,000 /Mo
      950 SF

      Downtown Retail/Restaurant Space Available

      950 SF retail or restaurant space in downtown New London.
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      View Details
    • $2,500 /Mo
      1,500 SF

      Downtown Commercial Unit For Lease

      Recently renovated 1,500 SF commercial unit in downtown New London.
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    • $15 SF/Yr
      8,200 SF

      Downtown New London Retail/Office Space

      Retail or office space in downtown New London with parking.
      7 Governor Winthrop Blvd, New London, CT 06320
      View Details
    • $1,900 /Mo
      81,312 SF

      Downtown Retail/Office Space Available

      Historic mixed-use building in downtown New London with great visibility.
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      View Details
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    653 Bank St
    New London, CT 06320-5043
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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