Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    359 Boston Post Rd Westbrook, CT 06498

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $749,000

    Restaurant with acreage for multi-family or retail development.

    Lot size:
    1.89 Acres

    Property Features for 359 Boston Post Rd

    General Information

    Lot size
    1.89 Acres

    Building Details

    Year built
    1959

    We can help!

    Listing Contact
    James Mccall
    James Mccall
    Source: Cbcworldwide

    Listing Agent: James Mccall

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restaurant and Development Opportunity

    This investment and development opportunity features a well-known restaurant situated on 4.27 acres. Additional acreage is available for multi-family or retail development. The property offers views overlooking the Long Island Sound inlet and marsh. Located at 359 Boston Post Road, Westbrook, CT, the existing restaurant space could be modified to accommodate various retail uses. The property includes 1.89 acres.
    Location Intelligence

    Current Use by Public Records

    The Deck Bar & Pub LibertyX Bitcoin ATM Atm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westbrook
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.4740492
    Latitude
    41.2746179

    Nearby Similar for Sale

    • New
      $1,790,000
      5,244 SF

      Westbrook Marina Opportunity

      Marina with mixed-use buildings and redevelopment potential in Westbrook, CT.
      54 Old Boston Post Rd, Westbrook, CT 06498
      View Details
    • $464,900

      Specialty Property For Sale

      Specialty property available for sale.
      257 Pond Meadow Rd, Westbrook, CT 06498
      View Details
    • $425,000

      Westbrook Specialty Property For Sale

      Specialty property available for purchase in Westbrook, Connecticut.
      30 Dowd Rd, Westbrook, CT 06498
      View Details
    • $995,000

      Westbrook Specialty Property For Sale

      Specialty property available for purchase in Westbrook, Connecticut.
      321 Old Clinton Rd, Westbrook, CT 06498
      View Details
    • $569,000

      Westbrook Specialty Property For Sale

      Specialty property available for purchase in Westbrook, Connecticut.
      180 Malabar Dr, Westbrook, CT 06498
      View Details
    • $975,000

      Grove Beach Road Property

      Property on Grove Beach Road available for sale.
      407 Grove Beach Rd N, Westbrook, CT 06498
      View Details
    • $425,000

      Specialty Property For Sale

      Specialty property available for purchase.
      155 Fawn Hill Dr, Westbrook, CT 06498
      View Details
    • $999,999

      Westbrook Specialty Property For Sale

      Specialty property available for purchase in Westbrook, Connecticut.
      1 Lake Louise Dr, Westbrook, CT 06498
      View Details
    • $475,000

      Residential Income Property For Sale

      Multifamily property in Westbrook, CT, available for purchase.
      29 Salt Island Rd, Westbrook, CT 06498
      View Details
    • $500,000

      Westbrook Multifamily Investment Opportunity

      Multifamily property for sale in Westbrook, Connecticut.
      912 Boston Post Rd, Westbrook, CT 06498
      View Details
    • Contact for pricing
      54,286 SF

      Westbrook E-Commerce Facility For Sale

      54,286 SF e-commerce facility off Interstate 95 in Westbrook, CT.
      90 Knothe Ln, Westbrook, CT
      View Details
    • $795,000
      6,424 SF

      Prime Westbrook Office Building

      Downtown Westbrook, 6,424 SF, $795,000
      70 Essex Rd, Westbrook, CT 06498
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant with acreage for multi-family or retail development.
    Where is this conventional restaurant located?
    The property is located at 359 Boston Post Rd Westbrook, CT.
    What is the asking price?
    The asking price for this property is $749,000.
    What are key features of this property?
    This property features: - Development opportunity with acreage available for multi-family or retail.; - Located on 4.27 acres.; - Includes a well-known restaurant.
    (203) 376-9650
    Request Owner's contact information
    359 Boston Post Rd Westbrook, CT 06498
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    359 Boston Post Rd
    Westbrook, CT 06498
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    359 Boston Post Rd Westbrook, CT 06498
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    James Mccall
    James Mccall
    (203) 376-9650 (203) 744-7025
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!