For Sale
$379,000

369 Bank St New London, CT 06320

Prime Retail Space, High Returns

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional two-story, 10,184 square foot multi-tenant retail building is located at 369 Bank Street in the heart of New London, Connecticut (zip code 06320). Built in 1900, the property boasts two 5,092 square foot floors, each currently occupied. The first floor is fully leased, with one tenant contributing $1,000 per month in rent. The second floor houses a gym, generating $1,350 monthly in rent, and a second tenant paying $1,150 monthly. This provides a strong, consistent income stream for the investor. The second floor also features a convenient drive-thru door in the rear of the building, offering additional access beyond the front stairs. This versatile property presents a significant opportunity for investors seeking a stable, income-producing asset in a vibrant downtown location. Owner financing is available, making this an even more attractive proposition. The property is categorized as a storefront, clothing store, and gym, reflecting its diverse tenant base and adaptability. This is a rare opportunity to acquire a well-situated, income-generating property in a desirable Connecticut location.

Highlights

  • $379,000 asking price.
  • 10,184 square feet retail storefront in New London, CT.
  • Multi-tenant property with two tenants.
  • Fully leased first floor; second floor partially leased.
  • Annual income of $36,000.
  • Owner financing available.

Property Details for 369 Bank St

Property type
Retail properties, Retail space
Square Feet
10,184 SF
Year Built
1900
Stories
2

Location Insight

City
New London
County
New London
State
Connecticut
Latitude
41.3508824
Longitude
-72.0989703

FAQs

What type of property is this?
Retail property - Prime Retail Space, High Returns
Where is the retail property located?
The property is located at 369 Bank St New London, CT.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: $379,000 asking price.; 10,184 square feet retail storefront in New London, CT.; Multi-tenant property with two tenants.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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369 Bank St
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