24 Montauk Ave, New London, CT 06320

Property Description

Located on Montauk Avenue in New London, 24 Montauk Ave is a three-story mixed-use building anchored by ServiceMaster, a long- term commercial tenant occupying the ground- floor office/warehouse space and the second- floor unit. The property includes a private parking lot with gated, secured parking for commercial vehicles, and separate private entrances for the residential units above. INVESTMENT OVERVIEW: -Stabilized NNN Income: ServiceMaster occupies the ground floor and Unit 1 under a triple-net lease at $5,500/month ($66,000/yr). -Immediate Upside: The third-floor unit (709 SF, t rue 2BR/1BA) is in good, rent ready condition - an immediate lease-up opportunity. -Flexible Second Unit: Unit 1 (914 SF) is currently utilized by ServiceMaster as additional office space, with the under lying layout offering residential conversion potential for a future owner. -Functional Flex Space: Ground floor includes 2,415 SF of finished office/ reception space plus 3,072 SF of warehouse across three bays, suited to service, trade, or light industrial users. -Secure, Dedicated Parking: Private lot with gated, secured parking for commercial vehicles. -Zoning: C-1 General Commercial District - mixed commercial / residential use is a recognized permitted use for pre-1983 structures. -Built: 1930, with classic New London architectural character. Public Utilities: Connected to public water/sewer.