8 Bank St New London, CT 06320-6075
This exceptional 2,226-square-foot retail or restaurant space is ideally situated on a prime corner lot in the heart of downtown New London, CT, at the intersection of Bank Street and State Street. The property boasts a prominent street presence with 1,308 square feet facing Bank Street and 918 square feet on State Street, ensuring high visibility and foot traffic. Built in 1900, this single-story building sits on a 0.05-acre lot and is zoned CBD1, offering flexibility for a variety of commercial uses. The space is currently vacant and features ample indoor seating for approximately 65 patrons, making it perfect for a restaurant or other high-traffic business. A fully equipped kitchen is included, featuring a hood system, fryolators, pizza oven, gas stove, three-bay sink, and a walk-in cooler, among other appliances. The property is offered "as is" with an attractive incentive: six months of free rent. The lease rate thereafter is $3,000 per month, plus utilities. Its convenient location near the train station and ferry terminal provides easy access for both employees and customers. This is a rare opportunity to secure a highly visible and well-equipped commercial space in a thriving downtown area.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.