357 Bank Street

New London, CT 06320 Directions
$799,000
  • 9,120Sqft
  • 0.05Acres
  • 1900Built
  • $88Price/Sqft

Property Highlights

  • Days on Market: 115
  • MLS: 170294596

Property Highlights

  • Days on Market: 115
  • MLS: 170294596

"THE 357 BUILDING" = Income opportunity with potential 11X Cap Rate. Combination of residential apartments and expansive restaurant space for fine dining. 500 Square foot kitchen with walk in cooler. Prepare and be ahead of the Bank Street resurgence. We are the leading edge to over 250 condominium units soon available down the street. Electric Boat, with multiple locations around the area has a workforce that loves New London. Wind-farm (power generation) deal was just solidified for the city as an example of it's MOVE to the HOOP of NEW LONDON; BEing the place to BE. Bank Street and especially this BLOCK is poised for huge growth. "THE 357 BUILDING"...

Property Highlights

  • Days on Market: 115
  • MLS: 170294596

"THE 357 BUILDING" = Income opportunity with potential 11X Cap Rate. Combination of residential apartments and expansive restaurant space for fine dining. 500 Square foot kitchen with walk in cooler. Prepare and be ahead of the Bank Street resurgence. We are the leading edge to over 250 condominium units soon available down the street. Electric Boat, with multiple locations around the area has a workforce that loves New London. Wind-farm (power generation) deal was just solidified for the city as an example of it's MOVE to the HOOP of NEW LONDON; BEing the place to BE. Bank Street and especially this BLOCK is poised for huge growth. "THE 357 BUILDING" currently has all the residential units rented. Maintenance and taxes are low. Easy management of a well cared for building. Purchase of this property and use of - or leasing of the restaurant space will make this an incredible investment. 20 Foot Long Wood Bar (16 Seats) 10 Tables (40 Seats); the total area is 38X33. Kitchen is 25X23 with walk in, multiple sinks and a 20 foot grill hood that is equipped for fire suppression. Be ahead of the curve by securing this excellent opportunity to own restaurant space and a building. Residential apartments cover "THE 357 BUILDING's" costs. Cameras on site and all apartments currently occupied with a waiting list. The foundation is going in on the largest condominium space across the street, don't be late to owning this block.... AT 'THE 357 BUILDING".

"THE 357 BUILDING" = Income opportunity with potential 11X Cap Rate. Combination of residential apartments and expansive restaurant space for fine dining. 500 Square foot kitchen with walk in cooler. Prepare and be ahead of the Bank Street resurgence. We are the leading edge to over 250 condominium units soon available down the street. Electric Boat, with multiple locations around the area has a workforce that loves New London. Wind-farm (power generation) deal was just solidified for the city as an example of it's MOVE to the HOOP of NEW LONDON; BEing the place to BE. Bank Street and especially this BLOCK is poised for huge growth. "THE 357 BUILDING" currently has all the residential units rented. Maintenance and taxes are low. Easy management of a well cared for building. Purchase of this property and use of - or leasing of the restaurant space will make this an incredible investment. 20 Foot Long Wood Bar (16 Seats) 10 Tables (40 Seats); the total area is 38X33. Kitchen is 25X23 with walk in, multiple sinks and a 20 foot grill hood that is equipped for fire suppression. Be ahead of the curve by securing this excellent opportunity to own restaurant space and a building. Residential apartments cover "THE 357 BUILDING's" costs. Cameras on site and all apartments currently occupied with a waiting list. The foundation is going in on the largest condominium space across the street, don't be late to owning this block.... AT 'THE 357 BUILDING".

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  • Additional Information
    • Area Type: Downtown
    • Days On Market: 50
    • Living Area SqFt: 9,120
    • Present Use: 25
    • Road Frontage Description: Municipal Street, Paved Road
    • Sewer: Public Sewer Connected
    • Status: Active
    • Tax Amount: $12,831
    • Tax Year: July 2019-June 2020
    • Type: Commercial For Sale
    • Unit Count: 3
    • Utilities Available: Electric, Gas, Telephone, Cable
    • Year Built: 1900
  • Interior/Exterior Features
    • Air Conditioning: Central Air
    • Cooling: Central Air
    • Flooring: Wood
    • Heat: Hot Air
    • Living SqFt Source: Public Records

Listing Courtesy of William Raveis Real Estate.

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