78-88 Broad St - Retail FOR SALE


New London, CT 06320
$975,000 USD
914-436-4790
78-88 Broad St, New London, CT for Sale
$975,000 USD
Retail - FOR SALE
1/21
null | 8.77% Cap Rate

78-88 Broad St
New London, CT 06320


HIGHLIGHTS

  • Renovated Units
  • Immediate Cash Flow
  • Exceptional Rental Demand
  • Access to Transportation & Transit
  • Diverse & Resilient Employment Ecosystem
  • Several Colleges & Universities

OVERVIEW

Northeast Private Client Group is pleased to present 78 Broad Street, an 8-unit mixed use property located in New London, CT. The property is comprised of 3 three bedroom apartments, 1 two bed apartment, and 4 retail suites. The property has benefited from substantial recent upgrades, ensuring long-term stability and minimal near-term maintenance. Ownership has invested in a new roof, new boilers, new hot water heaters, and converted the heating & hot water system to gas, along with a complete plumbing system upgrade. Three residential apartments have been fully renovated from top to bottom, offering modern finishes and strong rental appeal. The former wine store received a new subfloor as part of a successful commercial lease-up, and additional customized unit upgrades were completed to meet the needs of commercial tenants This presents an ideal opportunity for investors looking to acquire a stable asset with significant upside potential in a burgeoning market. The combination of immediate rent increases and the ability to enhance curb appeal makes this a highly attractive investment, with potential for both short-term income growth and long-term appreciation. 78 Broad Street’s location provides immediate access to Interstates 95 & 395, the New London Union Train Station, and the New London Ferry Terminal. Additionally, it provides convenient access to local shopping, dining, nightlife, and several community parks, as well as Connecticut College, the United States Coast Guard Academy, and Lawrence Memorial Hospital.

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$217 USD /SF

CAP RATE

8.77%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

C-1

APN/PARCEL ID

NLON-000036-000196-000014

ASK ABOUT THIS PROPERTY

Derek MahabirNortheast Private Client GroupMore Info
914-436-4790

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

Derek MahabirNortheast Private Client GroupMore Info
914-436-4790

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