90-94 Bank Street
About This Property for Sale
Marketing description
Positioned in the heart of New London’s waterfront district, this fully renovated mixed-use asset offers a rare opportunity to acquire a stabilized, income-producing property with strong long-term upside. Overlooking the Thames River, the building blends historic New England character with modern systems following a complete gut renovation in 2019.
The ±12,311 SF property features a diversified income stream consisting of 8 residential units, 2 retail storefronts, and 1 industrial/flex space—providing multiple revenue channels and reducing tenant concentration risk. Residential demand remains strong due to the walkable waterfront location, river views, and proximity to downtown amenities, dining, and entertainment.
The commercial spaces benefit from excellent visibility and frontage, making them highly attractive to retail and service users. Overall, this asset offers a compelling combination of location, stability, and upside in one of southeastern Connecticut’s most desirable coastal markets.
Investment highlights
- Prime Downtown Waterfront Location – Located in the heart of New London's vibrant waterfront district with views of the Thames River and immediate access to restaurants, entertainment, Union Station, and downtown amenities.
- Mixed-Use Investment – Diversified income stream featuring 8 residential apartments, 2 retail storefronts, and 1 industrial/flex space, reducing tenant concentration risk.
- Complete 2019 Gut Renovation – Fully modernized with updated major building systems while preserving the property's historic granite and brick architecture.
- Strong Residential Demand – Walkable waterfront location attracts tenants seeking an urban lifestyle with scenic river views and convenient access to downtown employers and transportation.
- High-Visibility Commercial Frontage – Retail spaces benefit from excellent exposure along Bank Street, making them attractive for restaurants, retail, professional offices, and service businesses.
- Historic Character with Modern Efficiency – Beautifully restored masonry construction offering timeless architectural appeal combined with lower capital expenditure requirements due to recent renovations.
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