Olde Tymes Restaurant 336 W Main St 6,000 SF Retail Building Norwich, CT 06360 $1,395,000 ($232.50/SF)

INVESTMENT HIGHLIGHTS

  • Landmark Restaurant in business for 39years.
  • Great opportunity for redevelopment.

EXECUTIVE SUMMARY

***Business Value Included in list price*** 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 and 118 feet on east. Daily traffic is approximately 18,000 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.

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,000 SF
Building Class
C
Year Built
1948
Price
$1,395,000
Price Per SF
$232.50
Tenancy
Single
Building Height
2 Stories
Building FAR
0.10
Lot Size
1.40 AC
Opportunity Zone
Yes
Zoning
GC - General Commercial
Parking
60 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
400’ on W Main St

AMENITIES

  • Bus Line
  • Pylon Sign
  • Air Conditioning
Walk Score®
Very Walkable (73)

NEARBY MAJOR RETAILERS

ShopRite
Bank of America
Rent-A-Center
CrossFit
Five Guys
Ninety Nine Restaurant & Pub

PROPERTY TAXES

  • Listing ID: 29155176

  • Date on Market: 8/1/2023

  • Last Updated:

  • Address: 336 W Main St, Norwich, CT 06360