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24-26 Montauk Ave 13,229 SF 100% Leased Retail Building New London, CT 06320 $851,077 CAD ($64.33 CAD/SF) 6.91% Cap Rate
Executive Summary
Located on Montauk Avenue in New London, 24 Montauk Ave is a three-story mixed-use building anchored by ServiceMaster, a long-term commercial tenant occupying the ground-floor office/warehouse space and the second-floor unit. The property includes a private parking lot with gated, secured parking for commercial vehicles, and separate private entrances for the residential units above.
HIGHLIGHTS
Stabilized NNN Income: ServiceMaster occupies the ground floor and Unit 1 under a triple-net lease at $5,500/month ($66,000/year).
Immediate Upside: The third-floor unit (709 SF, true 2BR/1BA) is vacant and in good, rent-ready condition — an immediate lease-up opportunity.
Flexible Second Unit: Unit 1 (914 SF) is currently utilized by ServiceMaster as additional office space, with the underlying layout offering residential conversion potential for a future owner.
Functional Flex Space: Ground floor includes 2,415 SF of finished office/reception space plus 3,072 SF of warehouse across three bays, suited to service, trade, or light industrial users.
Secure, Dedicated Parking: Private lot with gated, secured parking for commercial vehicles.
Zoning: C-1 General Commercial District — mixed commercial/residential use is a recognized permitted use for pre-1983 structures.
Built: 1930, with classic New London architectural character.
Public Utilities: Connected to public water and sewer.
Property Facts
Amenities
- 24 Hour Access
- Security System
- Signage
- Storage Space
- Air Conditioning
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Services
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Terminix began in 1927 in Memphis, Tennessee, as a termite-focused business and later expanded into broader pest control services. The company provides termite treatments, pest inspections, ongoing pest control, and home services for residential and commercial customers. Its offerings include protection plans for common household pests and services designed to prevent infestations and address damage from termites. Terminix has grown into a nationwide pest control business with a broad service network across the United States.
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- Services
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ServiceMaster began operations in 1929 and has grown into a family of brands providing various services. The company operates through a franchise model with thousands of locations worldwide. Their services include residential and commercial disaster restoration, cleaning, and maintenance solutions. ServiceMaster's brands address needs ranging from fire and water damage repair to janitorial services. The organization maintains a presence across multiple countries through its franchise network.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Services | - | - | - | ||
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Services | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | NLON-000026-000122-000031 | Improvements Assessment | $348,956 CAD |
| Land Assessment | $221,507 CAD | Total Assessment | $570,463 CAD |
Property Taxes
Presented by
24-26 Montauk Ave
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