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    OFF-MARKET
    Commercial real estate

    994 Ocean Ave, New London, CT 06320

    4,100 SF 1.61 ac lot
    Property ID
    US15-1025232
    Property summary
    AI-generated overview

    Exceptional opportunity to acquire a unique 4,100 square foot, single-level sports/entertainment property situated on a 1.61-acre lot in New London, Connecticut. This mid-century modern home, located at 994 Ocean Ave, 06320, boasts six bedrooms and five and a half bathrooms, offering ample space for various uses. The property features a large formal living room, a den with a fireplace, a full wet bar, and sliders leading to a deck. A state-of-the-art stereo system with integrated speakers enhances the entertainment experience. The expansive kitchen is equipped with granite countertops and high-end appliances, complemented by a large dining room and a master bedroom suite with a luxurious seamless glass shower. The finished lower level includes an in-law apartment, a pool room, a sauna, a wine cellar, and a 13-zone heating system installed in 2019. Central air conditioning and abundant storage space are also included. Outdoor amenities include a deck, a three-bay garage with additional storage, a tennis court, and a sprawling lawn featuring two large copper beech trees. Seasonal waterviews add to the property's appeal. The property has been successfully utilized as a short-term rental for the past eight years. Seller financing is available. The property is conveniently located a short walk from beaches and offers easy access to the vibrant New London lifestyle, including diverse dining options, boating opportunities, shopping, historical sites, and proximity to the Coast Guard Academy, Connecticut College, Mitchell College, General Dynamics, and Pfizer. Its location midway between Boston and New York City, and minutes from Mystic, CT attractions, further enhances its desirability. The asking price is $849,000, translating to $207.07 per square foot.

    Property profile
    Verified
    Property type Commercial real estate
    Total area 4,100 SF
    Lot 1.61 ac (70,132 SF)
    UPID US15-1025232
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
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    Zoning & alternative use
    Permitted uses
    Permitted uses
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