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MLS 24157233 For Sale Updated March 20, 2026
53-55 Bank Street

New London, Connecticut 06320

$1,950,000
On market 16 days
53-55 Bank Street
1 / 7

About This Property

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

Interior

Heat
Heat Pump — Natural Gas
Cooling
Split System
Basement
Full,Unfinished

Exterior & Lot

Roof
Other
Construction
Construction
Waterfront
Ocean Frontage
Lot Description
Level Lot

Utilities & Systems

Water Source
Public Water In Street
Sewer
Public Sewer In Street

Community & Schools

Elementary
Per Board of Ed
Middle
NULL
High
Per Board of Ed

53-55 Bank Street

New London , Connecticut 06320

$1,950,000

On market 16 days

Beds
5
Baths
0
SqFt
7,668
Type
Multi-Family
County New London
Garage -
Rooms -
Lot Size 0.11 Acres
Property Tax $23,446
Assessed Value $831,700
Year Built 1897
Style Units on different Floors
Zoning CBD-1

Payment Estimate

30-year fixed. Includes taxes; estimates only.

Estimated Monthly Payment
Open the full mortgage calculator →

Property Map

Map location is based on the property address.

Listing information is deemed reliable but not guaranteed and is sourced from the local MLS feed. Brokerage shown: THAM60.

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