Established Restaurant Business
For Sale
$224,900
285 Main Street, Wethersfield, CT 06109
Turnkey restaurant in Old Wethersfield with strong local customer base.
Property Size825 SF
Lot Size0.37 Acres
Price / SF$272.61
Days on Market194
Property Features for 285 Main Street
General Information
Standard status
Active
Size
825 SF
Lot size
0.37 Acres
Property subtype
Commercial
Amenities
Central air
Sidewalk
Ceramic Tile Flooring
Doors - under 10 ft
Dry
Ductless Cooling
Level Lot
Lighting
Zoned Heating
Building Details
Year Built
2018
Listing Agency:
Coldwell Banker Realty
(860) 668-4589
Listed By:
VITO CORTESE
Source:
Corcoran
Added: Jan 26
Changed: Aug 8
Last Checked: Apr 5 at 9:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This is a well-established restaurant business opportunity situated in Old Wethersfield. The business sale includes a monthly NNN lease of $5,000; the real estate is not included. The operation occupies approximately 825 square feet on the main level, configured for efficient front and back-of-house workflow. An upper-level area, estimated at roughly half the main-level footprint, is used for prep-work, bread production, and storage. The business specializes in authentic, from-scratch Italian cooking, with an established menu featuring Italian deli sandwiches served on house-made bread baked fresh daily, along with pizza, classic Italian comfort foods, daily specials, and prepared meals to go, supporting both dine-in and takeout demand. The space was extensively renovated in 2018, resulting in a modernized build-out and updated infrastructure. The restaurant is fully equipped, and all major equipment is owned outright and included in the sale. Equipment highlights include a Marsal double-deck pizza oven, Empura three-door commercial refrigerator/freezer, gas range, flat-top grill, deep fryer, extensive stainless-steel prep surfaces, commercial sinks, shelving, and dedicated prep and storage areas. It is well suited for an owner-operator or experienced restaurateur seeking an established operation.
Key Highlights
- Turnkey, well‑established restaurant business with strong local and destination traffic.
- Authentic, from‑scratch Italian cuisine with established menu and house‑made bread.
- Fully equipped, including Marsal pizza oven and Empura refrigerator/freezer (all equipment owned outright).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,930
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$218,600
$218.6K
Cap Rate 7%
$156,143
$156.1K
Cap Rate 9%
$121,444
$121.4K
Market Conditions
NOI Build-Up for 825 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.8K $19.20/SF
− Vacancy
−$1.3K −$1.54/SF
EGI
$14.6K $17.66/SF
− OpEx
−$3.6K −$4.42/SF
NOI
$10.9K $13.25/SF
Area
Hartford, CT
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$218,600
Cap Rate 7%
$156,143
Cap Rate 9%
$121,444
Alternative Uses
Best Use
Specialty Retail
$156.1K
$136.6K – $182.2K
NOI $10,930 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$245.9K
$215.2K – $286.9K
NOI $17,214 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06109, CT
27,298
Population
11,833
Households
2.3
Avg Household Size
44
Median Age
54%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
2,219
Density / Sq Mi
$118,523
Median Household Income
$70,225
Median Earnings
$1,303
Median Rent
$300,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant in Old Wethersfield with strong local customer base.
Where is this conventional restaurant located?
The property is located at 285 Main Street Wethersfield, CT.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Turnkey, well‑established restaurant business with strong local and destination traffic.; Authentic, from‑scratch Italian cuisine with established menu and house‑made bread.; Fully equipped, including Marsal pizza oven and Empura refrigerator/freezer (all equipment owned outright).
