40 Pearl Street, New London, CT 06320 - Photo 1

1/1

$1,100,000

Sold
Closed
Commercial

1/1

Property Description

Very well maintained 12 Unit multi-family property in the heart of downtown New London. All units are 1 bedroom with 1 bathroom. Total square footage is 9,366. Three stories with basement. Heat and hot water included in the rent. Laundry room on site. Water views from some units. NOI approximately $107,720. CAP rate: 7. Close proximity to restaurants, bars and shops. Room to increase NOI.

Full Property Details

Full Property Details for 40 Pearl St

General

Sold For: $1,100,000
Taxes: (July 2025-June 2026)
Status: Closed
Type: Commercial
Source: SMARTMLS
MLS ID: 24131150
Added to Site: 106 day(s) ago

Rooms

Bathrooms

Total Bathrooms: 1
Full Bathrooms: 1

Location

County: New London
Driving Directions: GPS Friendly.

Heating & Cooling

Cooling Type: None
Heating Type: Hot Air, Hot Water, Oil
Heating Fuel: Oil

Utilities

Sewer: Public Sewer Connected
Water: Public Water Connected
Utility Description: Electric Available, Phone Available

Structural Information

Roof: Tar/Gravel
Square Feet: 9,366
Sq. Ft. Source: Public Records
Year Built: 1895

Unit Information

Unit 1

Unit Description: 1 Bedroom
Total Bathrooms: 1

Lot Features

Lot Size (Acres): 0.09
Frontage: Municipal Street
Zoning: CBD-2
Lot Description: Dry

Financial Considerations

Assessment Amount: $492,700
Tax Year: July 2025-June 2026

Disclosures and Reports

Documents Avail.: Brochure
Property ID: 1999863

Listed by U.S. Properties Real Estate Services, LLC, Constance Howard and U.S. Properties Real Estate Services, LLC, Susan Howard Cihocki
Sold by U.S. Properties Real Estate Services, LLC, Constance Howard

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Listing agents

— 40 Pearl St —

Constance Howard

U.S. Properties Real Estate Services, LLC
Susan Howard Cihocki

U.S. Properties Real Estate Services, LLC

Agent Contact: (615) 293-3878 Office Contact: (860) 691-2011

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Schools

Schools serving 40 Pearl St

School District:New London School District

Name	Grades	Distance
Harbor School 432 Montauk Avenue, New London, CT 06320	PK-5	1.2 mi
Bennie Dover Jackson Middle School 36 Waller Street, New London, CT 06320	6-8	0.6 mi
New London High School 20 Chester Street, New London, CT 06320	9-12	1.4 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 40 Pearl St

Date

Details

Price

Change

Source

12/19/2025

Sold

$1,100,000

-26.67%

MLS

10/03/2025

Listed

$1,500,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

74 Crown Knoll Ct, Groton, CT 06340 - Photo 1

Just Listed

$249,900

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Apartment
Active
Updated 4 days ago

2
Beds
2
Total Baths
1,009
Sq. Ft.

Listed by The Huhn Team at Coldwell Banker Realty (860) 501-1758

[Address not provided], Groton, CT 06355 - Photo 1

Just Listed

$2,259,000

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Commercial
Active

Listed by William Pitt Sotheby's Int'l

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Just Listed

$1,650,000

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Single Family
Active
Updated 1 day ago

4
Beds
3
Total Baths
2,786
Sq. Ft.

Listed by Compass Connecticut, LLC

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Just Listed

$135,000

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Mobile Home
Active
Updated 1 day ago

2
Beds
1
Total Bath
720
Sq. Ft.

Listed by KW Legacy Partners

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Price Reduced

-$2,000 (-1.05%)

$188,999

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Land Residential
Active
Updated 3 days ago

0.33
Acres

Listed by Pltc, Llc

231 Poquonnock Rd, Groton, CT 06340 - Photo 1

Price Reduced

-$30,000 (-4.62%)

$620,000

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Single Family
Active
Updated 2 days ago

2
Beds
1
Total Bath
1,423
Sq. Ft.

Listed by U.S. Properties Real Estate Services, LLC

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Price Reduced

-$106,000 (-11.84%)

$789,000

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Single Family
Active
Updated 3 days ago

6
Beds
5
Total Baths
3,687
Sq. Ft.

Listed by Silver and Oak Realty

Price Reduced

-$30,000 (-4.62%)

$620,000

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Commercial
Active

Listed by U.S. Properties Real Estate Services, LLC

179 Montauk Ave, New London, CT 06320 - Photo 1

Sold

$985,000

179 Montauk Ave New London, CT 06320

Multi-Family
Closed

9
Total Beds

Listed by RE/MAX on the Bay
Sold by Real Broker CT, LLC

18 Hamilton Ave, Groton, CT 06340 - Photo 1

Sold

$1,150,000

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Commercial
Closed

Listed and Sold by William Pitt Sotheby's Int'l

919 Pequot Ave, New London, CT 06320 - Photo 1

Sold

$1,180,000

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Single Family
Closed

4
Beds
3
Total Baths
3,316
Sq. Ft.

Listed by William Raveis Real Estate
Sold by Marc DeLise

904 Eastern Point Rd, Groton, CT 06340 - Photo 1

Sold

$1,250,000

904 Eastern Point Rd Groton, CT 06340

Single Family
Closed

3
Beds
3
Total Baths
3,075
Sq. Ft.

Listed by Berkshire Hathaway NE Prop.
Sold by William Raveis Real Estate

40 Pearl Street, New London, CT 06320 (MLS# 24131150) is a Commercial property that was sold at $1,100,000 on December 19, 2025. Want to learn more about 40 Pearl Street? Do you have questions about finding other Commercial real estate for sale in New London? You can browse all New London real estate or contact a Coldwell Banker agent to request more information.

40 Pearl St New London, CT 06320