Property Description

Fully occupied mixed-use investment opportunity at 27 Broad Street in New London, CT. Five-unit Victorian brick building (c. 1900) generating $111,281 in gross annual income with a stabilized in-place NOI of $70,563 and a proforma NOI of $88,233 at market rents - representing a 9.81% cap rate at the $899,000 asking price. Ground floor is anchored by a long-term professional dental practice at $4,423/month, supported by four residential units above - two 2BR/1BA and two 1BR/1BA - all occupied, all with heat and hot water owner-paid. Three of the four residential units have been remodeled, featuring LVP flooring, updated kitchens, and stainless appliances. Residential rents are below market, offering a clear value-add path at natural turnover without capital expenditure. Original architectural character is preserved throughout the entire building. Total operating expenses of $37,808 annually (34% expense ratio). Owner financing considered. Full financial package available in MLS documents. Asking $899,000. Buyers to conduct independent due diligence on all figures.

Property Features