This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/11
$540,000 Just Listed
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/11
Property Description
This centrally located mixed-use building is an opportunity to own a cash flowing asset in the thriving New London market. Located near major economic drivers like Electric Boat, Pfizer, Coast Guard Academy, Connecticut College, and UConn Avery Point, this asset is in the heart of Southeastern Connecticut's growing economy. 623-625 Bank Street is well-positioned in New London, offering convenient access to the city's central business district, neighborhood retail corridors, and surrounding residential neighborhoods. The Property benefits from strong connectivity to major regional routes, including Interstate 95, U.S. Route 1, and Route 32, providing efficient access throughout southeastern Connecticut and into Rhode Island The multi-story building contains one (1) Commercial unit and three (3) 2-Bedroom/1-Bathroom units with 4,472 square feet of gross living area in 4,688 square feet of gross area. The Property is situated upon a 0.12-acre parcel and features one (1) off-street parking space. This is a great value-add opportunity for hands on investors looking to increase cash flow in a flourishing rental market.
Full Property Details
Full Property Details for 623-625 Bank St
General
- Price: $540,000
- Taxes: (July 2026-June 2027)
- Status: Active
- Type: Commercial
- Source: SMARTMLS
- MLS ID: 24207830
- Updated: 9/17/2026
- Added to Site: 1 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 3
Location
- County: New London
- Driving Directions: Please park on Bank Street in front of the building.
Heating & Cooling
- Cooling Type: Ceiling Fans, Wall Unit
- Heating Type: Baseboard, Electric
- Heating Fuel: Electric
Utilities
- Sewer: Public Sewer Connected
- Water: Public Water Connected
- Utility Description: Electric, Gas
Structural Information
- Roof: Asphalt Shingle
- Square Feet: 4,688
- Sq. Ft. Source: Public Records
- Living Area: 2,376 Sq. Ft.
- Retail: 2,096 Sq. Ft.
- Year Built: 1920
Unit Information
Unit 1
- Unit Description: Retail
Unit 2
- Unit Description: 2 Bedrooms
- Total Bathrooms: 1
Unit 3
- Unit Description: 2 Bedrooms
- Total Bathrooms: 1
Unit 4
- Unit Description: 2 Bedrooms
- Total Bathrooms: 1
Lot Features
- Lot Size (Acres): 0.12
- Frontage: Paved Road
- Zoning: C-1
- Lot Description: N/A
Financial Considerations
- Assessment Amount: $247,300
- Tax Year: July 2026-June 2027
Disclosures and Reports
- Documents Avail.: None
- Property ID: 1999731
Listed by Horvath & Tremblay, Thomas Connor
Get Pre-Approved Today
Price & Sales History for 623-625 Bank St
Date
Details
Price
Change
Source
9/17/2026
Listed
$540,000
260%
MLS
2/19/2004
Sold
$150,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 623-625 Bank St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$6,971
-1%
$247,300
—
2023
$7,048
-8%
$247,300
24%
2023
$7,683
—
$199,920
—
2022
$7,689
-2%
$199,920
—
2021
$7,827
-1%
$199,920
—
2020
$7,875
-4%
$199,920
—
2019
$8,217
-2%
$199,920
8%
2018
$8,367
2%
$185,360
—
2017
$8,204
6%
$185,360
—
2016
$7,754
6%
$185,360
—
2015
$7,320
15%
$185,360
—
2014
$6,352
68%
$185,360
35%
2011
$3,786
—
$137,690
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 623-625 Bank St
623-625 Bank Street, New London, CT 06320 (MLS# 24207830) is a Commercial property. 623-625 Bank Street is currently listed for $540,000 and was received on September 17, 2026. Want to learn more about 623-625 Bank 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.

