25 Westwood AveNew London, CT 06320

Property Details for 25 Westwood Ave

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.71 AC

Property size (Sq ft)

9,040 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NLON M:D15 B:0118 L:0118

APU

NLONMD15B0118L0118

Description

This exceptional commercial property, located at 25 Westwood Avenue in New London, Connecticut, presents a unique opportunity for businesses seeking flexible and adaptable workspace. The single, one-story building, totaling 9,000 square feet, offers a blend of traditional office and flex space, ideal for a variety of uses. Built in 1960 and extensively renovated in 2020, the property boasts a Class C rating and features high ceilings (15 feet) and ample natural light. Currently, there are 600 square feet of vacant space immediately available, with a minimum divisible space of 600 square feet and a maximum contiguous space of 6,000 square feet. The building is divided into three suites, providing options for multiple tenants or a single large occupant. The property benefits from excellent accessibility, with 200 feet of frontage, three dock-high doors, and three drive-in doors, making loading and unloading efficient. Ten convenient parking spaces are available on-site. The property is zoned commercial and situated in the New London submarket of New London County. Key features include a modern alarm system, security cameras, and three-phase electrical service. This versatile property offers a compelling combination of location, functionality, and recent upgrades, making it an attractive option for businesses seeking a well-maintained space in a thriving Connecticut community. The zip code is 06320, and the cross street is Bank Street.

• CAP approach

  CAP return

  Valuation

  6%

  $2,197,036

  6.5%

  $2,028,033

  7%

  $1,883,173

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,976,539

  Geo Method

  $2,976,539

• Alternative Use

  Use

  Valuation

  Residential

  $1,710,722

  Hospitality

  $1,567,012

  Educational

  $1,303,735

  Medical

  $1,348,573

  Retail

  $2,028,033

Location Insight

City

New London

County

New London

State

Connecticut

Latitude

41.3473

Longitude

-72.1116

CBSA code

35980

CBSA name

NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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