516 Vauxhall Street, New London, CT, 06320 | $850,000

It is exciting to bring this 9, 870 sq. ft. , Class B, Professional Office Building to the market. This two-story wood frame building is a fantastic opportunity for business owners or investors. Located on a corner lot, there is easy access from I-95. Situated on two heavily traveled municipal streets, it features 2 driveway cuts and plenty of parking. The paved lot includes 31 marked, off-street parking spaces. Inside, the building has 6 spacious office suites, 3 on each floor. Every suite has its own private half-bathroom, making it convenient for tenants and employees. With separate front and rear entrances, you will find carpeted staircases leading to each floor, ensuring a comfortable and professional atmosphere. Each suite operates independently with its own electric meter, giving tenants control over their utilities. The property also includes a seventh electric meter for house utilities. Additionally, there are 6 natural gas meters and 6 air conditioning compressors, ensuring every space is individually climate controlled. Every suite also comes with its own natural gas-fired furnace and hot water heater, providing efficient heating and hot water. Whether you're looking for a property to occupy yourself, with additional income producing tenants or simply seeking an investment opportunity, this building is must-see. Schedule your private tour today before it's GONE! It is exciting to bring this 9, 870 sq. ft. , Class B, Professional Office Building to the market. This two-story wood frame building is a fantastic opportunity for business owners or investors. Located on a corner lot, there is easy access from I-95. Situated on two heavily traveled municipal streets, it features 2 driveway cuts and plenty of parking. The paved lot includes 31 marked, off-street parking spaces. Inside, the building has 6 spacious office suites, 3 on each floor. Every suite has its own private half-bathroom, making it convenient for tenants and employees. With separate front and rear entrances, you will find carpeted staircases leading to each floor, ensuring a comfortable and professional atmosphere. Each suite operates independently with its own electric meter, giving tenants control over their utilities. The property also includes a seventh electric meter for house utilities. Additionally, there are 6 natural gas meters and 6 air conditioning compressors, ensuring every space is individually climate controlled. Every suite also comes with its own natural gas-fired furnace and hot water heater, providing efficient heating and hot water. Whether you're looking for a property to occupy yourself, with additional income producing tenants or simply seeking an investment opportunity, this building is must-see. Schedule your private tour today before it's GONE!

Features

  • Current Use: OFFICE
  • Permitted Use: OFFICE
  • Utilities: Electric,Gas,Telephone,Cable
  • Garage: Paved,Off Street Parking,Driveway
  • Parking: 31-car
  • Heating: Hot Air
  • Cooling: Central Air
  • Units: 6
  • Zoning: C-2
  • Frontage: Municipal Street,Paved Road
  • Year Built: 1986
  • Approx Sq. Feet: 9,870
  • Acreage: 0.54
  • Est. Taxes: $20,886
  • Lot Desc: Corner Lot,Treed,Dry,Level Lot,Cleared
  • MLS#: 24049489
  • Days on Market: 6 days
  • Website: https://www.raveis.com
    /prop/24049489/516vauxhallstreet_newlondon_ct?source=qrflyer
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Listing courtesy of IMT Realty

William Raveis Family of Services

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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 81725

203.980.8025

Frank.Kolb@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
  • Offers you pre-approval in minutes!
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Our Insurance Division:

  • Will Provide a home insurance quote within 24 hours
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    Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable

Ray CashenPresident, William Raveis Attorney Network

203.925.4590

For homebuyers and sellers, our Attorney Network:

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    requirements, sets up escrows and title insurance, coordinates closing documents
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516 Vauxhall Street, New London, CT, 06320

$850,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

Senior Vice President - Coaching & Strategic

William Raveis Mortgage, LLC

Phone: 203.980.8025

Frank.Kolb@raveis.com

NMLS Mortgage Loan Originator ID 81725

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $680,000 $680,000 $680,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.500% 6.375% 5.875%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.748% 6.474% 6.036%
Monthly Tax Payment $1,741 $1,741 $1,741
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $3,861 $4,242 $5,692
Total Monthly Payment $5,693 $6,074 $7,524

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.