336-364 W Main St - Restaurant FOR SALE


Norwich, CT 06360- Northeast New London/Norwich
$1,295,000 USD
860-887-6865
336-364 W Main St, Norwich, CT for Sale
$1,295,000 USD
Restaurant - FOR SALE
1/6
null | Request Cap Rate

336-364 W Main St
Norwich, CT 06360
Northeast New London/Norwich


HIGHLIGHTS

  • Landmark Restaurant in business for 42 years. Perfect for renovation/upgrade/expansion. Owner retiring due to health issues
  • zoning is perfect for a popular 3 story, mixed used development in addition to or in replace of the current restaurant business.
  • Recent price reduction! Great value!

OVERVIEW

***Business Value Included in list price*** Recent Price Reduction! Landmark restaurant created by connecting 2 houses in 1983. Owner retiring. Land is suitable for office or retail development with 400 feet of frontage on the main 4 lane street of the city of Norwich, 200 hundred feet deep on west end next to traffic signal Daily traffic is approximately 19,000 to 20,000 per day. In a good area that is experiencing renewed growth. New 100+ unit apartment development finished 1/2 mile from this site. Suitable for continued use as restaurant with additional buildings possible or do a complete tear-down and rebuild. Harbor Freight, Dollar General, Concentra Health Center, CVS, Walgreens, and additional retail stores are all located directly across the street. Potential for mixed-use with commercial first floor and residential units above. Pictures do not show entire land area.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$216 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Olde Tymes Restaurant

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,984 SF

ZONING

GC

APN/PARCEL ID

NORW-000109-000001-000013

ASK ABOUT THIS PROPERTY

Rodney GreenOld TymesMore Info
860-887-6865

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Rodney GreenOld TymesMore Info
860-887-6865

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.