336-364 W Main St - Restaurant FOR SALE


Norwich, CT 06360- Northeast New London/Norwich
$1,395,000 USD
860-887-6865
336-364 W Main St, Norwich, CT for Sale
$1,395,000 USD
Restaurant - FOR SALE
1/12
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!
  • Previously approved for 36 room hotel development
  • Possibly redevelopment opportunity

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 additional mixed-use building with commercial first floor and residential units above. Previously approved for 36 room hotel in addition to the restaurant. All lots shown in the pictures are included with the price.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$233 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

Bar, Service Station, 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.