About 53-55 Bank Street
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 'Diamond Pizza' the restaurant space is currently available 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. Contact 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.
Features of 53-55 Bank Street
| MLS® # | 24157233 |
|---|---|
| Price | $1,625,000 |
| Bedrooms | 5 |
| Square Footage | 7,668 |
| Acres | 0.11 |
| Type | Multi-Family For Sale |
| Sub-Type | 5 Family+ |
| Style | Units on different Floors |
| Status | Under Contract |
Community Information
| Address | 53-55 Bank Street |
|---|---|
| Area | N/A |
| City | New London |
| County | New London |
| State | Connecticut |
| Zip Code | 06320 |
Amenities
| Is Waterfront | Yes |
|---|---|
| Waterfront | Ocean Frontage |
| Has Pool | No |
Interior
| Heating | Heat Pump, Natural Gas |
|---|---|
| Cooling | Split System |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Full, Unfinished |
Exterior
| Exterior | Brick |
|---|---|
| Lot Description | Level Lot |
| Roof | Other |
| Foundation | Concrete |
School Information
| Elementary | Per Board of Ed |
|---|---|
| High | Per Board of Ed |
Additional Information
| Date Listed | March 3rd, 2026 |
|---|---|
| Days on Market | 148 |
| Zoning | CBD-1 |
| RE / Bank Owned | No |
Listing Details
| Office | U.S. Properties Real Estate Services, LLC |
|---|