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.
Under contract
$1,625,000
53-55 Bank Street, New London, CT 06320
5beds
0baths
7,668sqft
Multi Family
Built in 1897
-- sqft lot
$-- Zestimate®
$212/sqft
$-- HOA
What's special
- 196 days
- 30
- 1
Zillow last checked:
Listing updated:
Listed by:
Constance Howard (615)293-3878,
U.S. Properties Real Estate Services, LLC 860-437-0101
Source: Smart MLS,MLS#: 24157233
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 0
Heating
- Heat Pump, Natural Gas
Cooling
- Ductless
Appliances
- Included: Water Heater
Features
- Basement: Full,Unfinished
- Attic: None
- Has fireplace: No
Interior area
- Total structure area: 7,668
- Total interior livable area: 7,668 sqft
- Finished area above ground: 7,668
Property
Features
- On waterfront: Yes
- Waterfront features: Waterfront, Ocean Front
Lot
- Size: 4,791 Square Feet
- Features: Level
Details
- Parcel number: 1999829
- Zoning: CBD-1
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Units on different Floors
- Property subtype: Multi Family
Materials
- Brick
- Foundation: Concrete Perimeter
- Roof: Other
Condition
- New construction: No
- Year built: 1897
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: New London
Financial & listing details
- Price per square foot: $212/sqft
- Tax assessed value: $831,700
- Annual tax amount: $23,362
- Date on market: 3/3/2026
Estimated market value
Not available
Estimated sales range
Not available
$2,483/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/29/2026 | Pending sale | $1,625,000$212/sqft |
Source:  Smart MLS #24157233 Report a problem | ||
| 4/27/2026 | Price change | $1,625,000-16.7%$212/sqft |
Source: Smart MLS #24157233 Report a problem | ||
| 3/3/2026 | Listed for sale | $1,950,000$254/sqft |
Source: Smart MLS #24157233 Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 06320
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