35-41 Bank St 11,000 SF Retail Building New London, CT 06320 $375,000 ($34.09/SF)
INVESTMENT HIGHLIGHTS
- Refurbish or repurpose.
EXECUTIVE SUMMARY
Landmark, historic theater in the heart of downtown New London located in the Opportunity Zone, ready to be refurbished or re-purposed with potential for adding floors and multiple revenue streams. Building has an 11,000 SF footprint, approximately 3,500 SF mezzanine and 11,000 SF basement. Built in 1921 as a Vaudeville theater, later used as a movie theater, seated 2,500. new roof in 2010. Federal and Historic Tax credits applicable. Wonderful opportunity to create a destination site! In close proximity to Amtrak and Long Island ferry stations and the future Coast Guard Museum.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
PROPERTY FACTS
Sale Type
Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
11,000 SF
Building Class
C
Year Built
1900
Price
$375,000
Price Per SF
$34.09
Tenancy
Single
Building Height
3 Stories
Slab To Slab
14’
Building FAR
0.97
Lot Size
0.26 AC
Opportunity Zone
Yes
Zoning
CBD1 - Central Business District
Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | NLON M:G12 B:0142 L:0012-A | Improvements Assessment | $248,500 |
| Land Assessment | $135,200 | Total Assessment | $383,700 |
