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25 photos
Additional details
$525,000
Est. payment /mo
2 Baths
4,728 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,728 sqft
Price per Sqft $111
MLS Listing ID 24155567
Full Baths 2
Year Built 1939
Annual Tax Amount $8,826
Lot Size 3,484 Sqft
Property Description
Prime Downtown New London Commercial Opportunity!! Exceptional investment opportunity in the heart of New London's vibrant downtown district. This well-maintained commercial building offers over 4,700+ square feet of versatile interior space, plus an additional 586 square foot patio, providing excellent flexibility for a variety of business concepts. The property is currently configured as two separate units, though it is presently leased to a single tenant operating a successful restaurant that occupies the entire building. This setup offers immediate rental income potential while maintaining future flexibility for multi-tenant use. Positioned in a high-visibility, high-foot-traffic location, this property benefits from strong surrounding retail, dining, and waterfront attractions. The building presents endless possibilities for investors and owner-operators alike - continue its use as a restaurant, reconfigure for mixed commercial tenants, or explore redevelopment opportunities. Notably, there is potential to build upward and add residential apartments above, creating a compelling mixed-use investment in one of downtown's most desirable corridors (subject to approvals). Please note: Sale includes the building only. The restaurant business is not included in the sale. An outstanding opportunity to own a prime piece of downtown real estate with income and future development potential.
Location
State CT
County New London
Zoning CBD-1
Interior
Heating Hot Air
Cooling Central Air
Exterior
Utilities Available Electric, Gas
Roof Type Rubber
Building
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
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Listed by Christopher Torrez • RE/MAX One
Nearby School & Business
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