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53-55 Bank Street, New London, CT 06320

Multi-Family For Sale · 5 Family+

$1,625,000
$212/sqft
53-55 Bank Street, New London, CT
Active
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5
Bedrooms
0
Bathrooms
7,668
Sq Ft
0.11
Acres
1897
Year Built

About This Home

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.

Listed by Constance Howard (615) 293-3878 with U.S. Properties Real Estate Services, LLC (860) 691-2011

Listing Snapshot

Price $1,625,000 Days on Our Site 89 days
Property Tax $23,446/yr Style Units on different Floors
Year Built 1897 Total Sq Ft 7,668
Lot Size 0.11 acres HOA Fees N/A
Bedrooms 5 Full Bathrooms 0
Total Rooms 5 Half Baths 0

Key Features

Outdoor
  • Ocean Frontage

Structure & Parking

Construction Brick,Masonry
Roof Other

Systems & Utilities

Heat Heat Pump
Fuel Natural Gas
Cooling Split System
Hot Water Other
Water Public Water In Street
Sewer Public Sewer In Street

Schools

Elem Per Board of Ed
High Per Board of Ed

Mortgage Calculator

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Est. Monthly Payment —
Principal & Interest —
Est. Property Tax $1,954/mo
Est. Home Insurance —

Estimate only. Contact a lender for accurate figures.

Listing History

Date Event Price
Apr 27, 2026 Price Reduced $1,625,000
Mar 3, 2026 Listed $1,950,000

Frequently Asked Questions

How much does 53-55 Bank Street in New London, CT cost?
This property is listed at $1,625,000, which works out to $212 per square foot.
How many bedrooms does 53-55 Bank Street have?
This home has 5 bedrooms and 0 bathroom.
What is the square footage of 53-55 Bank Street?
The home is 7,668 square feet, situated on 0.11 acres.
When was 53-55 Bank Street in New London built?
This property was built in 1897.
Is 53-55 Bank Street, New London, CT still available?
The current MLS status of this property is "Active". Contact RYZE Realty Group for the latest availability.
What school district is 53-55 Bank Street, New London in?
This home is served by the New London public school system, with Per Board of Ed as the elementary school and Per Board of Ed as the high school.
How do I schedule a tour of 53-55 Bank Street, New London, CT?
Contact RYZE Realty Group to schedule a private showing. You can submit a tour request directly on this page or call our office.

Listing Agent

Constance Howard · (615) 293-3878

U.S. Properties Real Estate Services, LLC · (860) 691-2011

MLS# 24157233 · Data provided by SmartMLS. Information deemed reliable but not guaranteed.
Listing updated May 11, 2026 5:02 PM UTC