Olde Tymes Restaurant 336 W Main St

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.

• Sale Type    Investment or Owner User
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Storefront Retail/Residential Office Office Residential Restaurant
• Building Size    6,000
• Building Class    C
• Year Built    1948
• Price    1,395,000
• Price Per SF    233
• Tenancy    Single
• Building Height    2 Stories
• Building FAR    0.10
• Land Acres    1.40 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

• Bus Line
• Pylon Sign
• Air Conditioning