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$ 899,000
Est. payment /mo
New
27 Broad Street New London, CT 06320
5 Baths
5,510 SqFt
UPDATED:
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
Listed by Jason Pollard • Compass Connecticut, LLC