Restaurant and Residential Mixed-Use
10,380 SqFt
Marketing description
A mixed use investment property with a private parking lot. All residential units are leased; Restaurant lease has been with held while not know if the Buyer will be an investor, or a User Operator.
Three residential apartments and a 4,330 square foot restaurant on the ground floor.
The city of New London is underway with very heavy growth to include a $250,000,000 Coast Guard Museum, a $300,000,000 staging for an off-shore wind farm, approximately 1,000 residential apartments either under construction or just recently completed, and the Electric Boat Division of General Dynamics under going a hiring exercise where they hope to hire approximately five-thousand 5,000 new employees each year for the next seven years.
These rents are all under market value with substantial room for a reasonable increase.
Investment highlights
Four large units.
All residential units filled with rent paying tenants.
Private off street parking lot comes with the listing.
Substantial commercial and residential growth in surrounding area.
Good CAP Rate with additional room for improvement.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
