53-55 Bank Street
New London, CT 06320
5
Bed
0
Bath
7,668Sqft
0.11Acre(Lot)
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.
Property Details
Map
Map
What's Nearby
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Features
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Bedroom Information
Total beds: 5Room Information
Rooms Total: 5 Has Basement: Yes Basement: Full, Unfinished -
Heating & Cooling
Has Heating: Yes Heating: Natural Gas, Heat Pump Water front: 1
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Building Information
Year Built: 1897 Building Area Total: 7668 Construction Materials: Brick Private Pool: No Water front Features: Ocean Front
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Lot Information
Lot Size Acres: 0.11 Lot Description: Level, Waterfront
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Listing Price Information
Listing Price: $1625000 Original Price: $1950000
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Tax Information
Parcel Number: 1999829 Annual Tax: $23362
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School Information
Elementary School: Per Board of EdJunior High School:Senior High School: Per Board of Ed -
Location Information
Direction: GPS friendly.
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 153 Bank Street, New London, CT, 06320 | $1,725,000 | 6 | 6 | 12,470 | 12,470 SqFt |
| 147 Bank Street, New London, CT, 06320 | $1,350,000 | 3 | 3 | 8,701 | 8,701 SqFt |
| 35 Union Street, New London, CT, 06320 | $13,000,000 | 61 | 81 | 75,075 | 75,075 SqFt |
| 77 Truman Street, New London, CT, 06320 | $480,000 | 2 | 4 | 3,410 | 3,410 SqFt |
| 35 Moore Avenue, New London, CT, 06320 | $479,900 | 6 | 3 | 1,950 | 1,950 SqFt |
| 205 Crystal Avenue, New London, CT, 06320 | $250,000 | 8 | 3 | 2,272 | 2,272 SqFt |
| 89 Hempstead Street, New London, CT, 06320 | $339,900 | 3 | 2 | 1,330 | 1,330 SqFt |
| 837 Bank Street, New London, CT, 06320 | $499,900 | 5 | 4 | 2,478 | 2,478 SqFt |
| 93 Squire & 0 Moran Str.., New London, CT, 06320 | $550,000 | 6 | 2 | 2,516 | 2,516 SqFt |
Similar Multifamily To 53-55 Bank Street
Nearby For Sale
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ByOwner last updated this listing 08/20/2026 @ 04:22
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