27 Broad Street, New London, CT 06320
27 Broad Street, New London, CT 06320
27 Broad Street, New London, CT 06320
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Dawn Cabral

Dawn Cabral

+1(203) 228-7564
$899,000
Est. payment /mo
5 Baths
5,510 SqFt
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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 5,510 sqft

Price per Sqft $163

MLS Listing ID 24191402

Full Baths 4

Half Baths 1

Year Built 1900

Annual Tax Amount $11,905

Lot Size 0.310 Acres

Property Description

Fully occupied mixed-use investment opportunity at 27 Broad Street in New London, CT. Five-unit Victorian brick building (c. 1900) generating $111,281 in gross annual income with a stabilized in-place NOI of $70,563 and a proforma NOI of $88,233 at market rents - representing a 9.81% cap rate at the $899,000 asking price. Ground floor is anchored by a long-term professional dental practice at $4,423/month, supported by four residential units above - two 2BR/1BA and two 1BR/1BA - all occupied, all with heat and hot water owner-paid. Three of the four residential units have been remodeled, featuring LVP flooring, updated kitchens, and stainless appliances. Residential rents are below market, offering a clear value-add path at natural turnover without capital expenditure. Original architectural character is preserved throughout the entire building. Total operating expenses of $37,808 annually (34% expense ratio). Owner financing considered. Full financial package available in MLS documents. Asking $899,000. Buyers to conduct independent due diligence on all figures.

Location

State CT

County New London

Zoning C-1

Interior

Interior Features Employee Lounge, Security System

Heating Steam

Cooling Central Air, Window Unit

Flooring Vinyl, Wood

Exterior

Exterior Feature Sidewalk, Gutters

Parking Features Paved, Parking Lot, Off Street Parking

Utilities Available Electric, Gas, Telephone, Cable

Roof Type Slate

Building

Lot Description Dry, Level Lot

Story 3

Foundation Stone

Sewer Public Sewer Connected

Water Public Water Connected

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Listed by Jason Pollard • Compass Connecticut, LLC

 

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Dawn Cabral

Dawn Cabral

Owner/Broker

+1(203) 228-7564

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27 Broad Street