207 Bank StNew London, CT 06320

Property Details for 207 Bank St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 AC

Property size (Sq ft)

6,635 SF

Property type

Showrooms

APN

NLON M:G13 B:0139 L:0006

APU

NLONMG13B0139L0006

Description

This 1,800 square foot commercial space, located at 207 Bank Street in New London, Connecticut, presents a fantastic opportunity. Built in 1900, this single-tenant space is ideal for retail, office, or restaurant use. The "vanilla box" layout offers an open and bright floor plan with high ceilings, ample storage, and two restrooms. The property features both front and rear egress for convenient access. Its prime downtown location offers exceptional walkability to numerous restaurants, shops, a theater, apartments, the waterfront, bus lines, train station, and ferry. Furthermore, it enjoys convenient access to major roads and highways, and is only 10 minutes from Electric Boat. Municipal parking is just steps away, providing easy parking for clients and employees. The space boasts instant access to land, rail, and water transportation, making it a highly accessible location. The landlord will consider dividing the space to accommodate specific tenant needs. Monthly rent is $2,850.

• CAP approach

  CAP return

  Valuation

  6%

  $1,612,537

  6.5%

  $1,488,495

  7%

  $1,382,174

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,184,661

  Geo Method

  $2,184,661

• Alternative Use

  Use

  Valuation

  Residential

  $1,255,602

  Hospitality

  $1,150,124

  Educational

  $956,890

  Medical

  $989,799

  Retail

  $1,488,495

Location Insight

City

New London

County

New London

State

Connecticut

Latitude

41.3521

Longitude

-72.0966

CBSA code

35980

CBSA name

NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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