53-57 Bank St - Storefront Retail/Office FOR SALE


New London, CT 06320
$1,950,000 USD
615-293-3878
53-57 Bank St, New London, CT for Sale
$1,950,000 USD
Storefront Retail/Office - FOR SALE
1/1
null | 5.5% Cap Rate

53-57 Bank St
New London, CT 06320


OVERVIEW

Mixed Use Property with 1 commercial unit and 8 apartments located in the heart of downtown New London. This 10,636 SF, 3 story building has 1 commercial 2,556 SF unit on the ground level. Formerly ‘Daimond Pizza’ the restaurant space is currently vacant and turnkey-ready with F,F&E. There are 8 apartments on the 5,112 SF second and third floors. There is a 2,556 SF basement. NOI approximately $107,329. Room to increase NOI leasing the commercial unit which had been paying $3,075 / month. Call office for financials. Excellent investment property with stable cash flow. Property may be purchased as a package with 153 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$183 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Royal Hotel

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1897

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

CBD-1

APN/PARCEL ID

NLON-000028-000142-000019

ASK ABOUT THIS PROPERTY

Connie HowardUS PropertiesMore Info
615-293-3878

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

Connie HowardUS PropertiesMore Info
615-293-3878

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