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53-57 Bank St
New London, CT 06320
Royal Hotel · Retail Property For Sale
Executive Summary
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.
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
10,636 SF
Building Class
C
Year Built
1897
Price
$2,665,533 CAD
Price Per SF
$250.61 CAD
Cap Rate
5.50%
NOI
$146,712 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
8’
Building FAR
2.22
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
CBD-1 - Central Business District
Frontage
46’ on Bank St
Property Taxes
| Parcel Number | NLON-000028-000142-000019 | Improvements Assessment | $1,015,587 CAD |
| Land Assessment | $118,951 CAD | Total Assessment | $1,134,539 CAD |
Property Taxes
Parcel Number
NLON-000028-000142-000019
Land Assessment
$118,951 CAD
Improvements Assessment
$1,015,587 CAD
Total Assessment
$1,134,539 CAD
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