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20-22 Lafayette St 8,120 SF 100% Leased Retail Building Norwich, CT 06360 $635,000 ($78.20/SF)



Investment Highlights
- Turnkey Restaurant - Fully equipped Kitchen
- Spacious Dining area
- Minutes from Backus Hospital
- Established restaurant location
- Basement storage available
- Convenient access to I-395
Executive Summary
Exceptional mixed-use investment opportunity featuring a well-established, turnkey restaurant business on the first floor and a spacious residential unit above. The restaurant comes fully operational with an established clientele and includes all restaurant equipment, and fixtures in the sale, making this a seamless opportunity for an owner-operator or investor. The second-floor apartment offers 3 generously sized bedrooms, 1 full bathroom, and abundant living space. The finished attic provides additional versatile space complete with another full bathroom, ideal for extended living, office space, or storage. This property also features a full basement providing ample additional storage space. This unique property offers excellent income potential and a rare opportunity to own both a thriving business and residential space in one package. Conveniently located near major highways, hospitals, and other local businesses. ALSO AVAILABLE FOR LEASE RESTAURANT AND SECOND FLOOR APARTMENT.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$552,153
|
$68.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$552,153
|
$68.00
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $552,153 |
| Annual Per SF | $68.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $552,153 |
| Annual Per SF | $68.00 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,120 SF
Building Class
C
Year Built/Renovated
1938/2019
Price
$635,000
Price Per SF
$78.20
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
8’
Building FAR
0.47
Lot Size
0.40 AC
Zoning
NC
Parking
5 Spaces (0.62 Spaces per 1,000 SF Leased)
Frontage
94’ on Lafayette
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Canggio Restaurant
- Accommodation and Food Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Canggio Restaurant | Accommodation and Food Services | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | NORW-000084-000001-000060 | Improvements Assessment | $170,500 |
| Land Assessment | $35,100 | Total Assessment | $205,600 |
Property Taxes
Parcel Number
NORW-000084-000001-000060
Land Assessment
$35,100
Improvements Assessment
$170,500
Total Assessment
$205,600
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20-22 Lafayette St
