109-111 Bank St - Restaurant FOR SALE


New London, CT 06320
$1,400,000 USD
860-269-3950
109-111 Bank St, New London, CT for Sale
$1,400,000 USD
Restaurant - FOR SALE
1/8
null | Request Cap Rate

NEW


109-111 Bank St
New London, CT 06320


HIGHLIGHTS

  • Historic 1790 waterfront property in downtown New London
  • Potential state & federal historic tax credit opportunity
  • ±4,510 SF patio, pavilion, and outdoor bar area

OVERVIEW

109–111 Bank Street presents a unique opportunity to acquire a historic mixed-use property in the center of downtown New London’s Bank Street district. Built in 1790, the Bulkeley House is one of the city’s oldest waterfront buildings and sits directly between Tox Brewing Company and Hygienic Art, two of the area’s most active entertainment and cultural destinations. The property contains approximately 7,023 SF with a large existing restaurant layout, private dining/event areas, and an expansive outdoor patio and pavilion space totaling over 4,500 SF. The site also benefits from immediate access to a city-owned parking lot located directly behind the property. Prepared permit set redevelopment drawings by DJLU Architect contemplate a mixed-use conversion featuring a ground-floor restaurant and hospitality concept with residential apartments on the upper floors. The property may also qualify for state and federal historic tax credits. The location is positioned within walking distance of Union Station, Cross Sound Ferry, and the future National Coast Guard Museum, which is currently under development on the waterfront. Additional regional growth drivers include Electric Boat’s continued workforce expansion and significant ongoing investment throughout downtown New London. Inquiries, financials, the full DJLU permit set, the property survey, and the New London Economic Drivers 2025 brief are available to qualified investors

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$199 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Bulkeley House

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1790

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,791 SF

ZONING

CBD-1

APN/PARCEL ID

NLON-000028-000140-000012

ASK ABOUT THIS PROPERTY

Shannon HealyParker Benjamin Real Estate ServicesMore Info
860-269-3950

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Shannon HealyParker Benjamin Real Estate ServicesMore Info
860-269-3950

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.