Lakefront Event and Restaurant
355 Lakewood Road Waterbury, CT 06704
355 Lakewood Road, Waterbury, CT, 06704
$750,000
For Sale
$750,000
Unfinished restaurant-style building plus a covered pavilion with restrooms and kitchen, set up for immediate outdoor events.
Property Size4,304 SF
Price / SF$174.26
Days on Market18
Property Features for 355 Lakewood Road
General Information
- Standard status
- Active
- Size
- 4,304 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2017
Listing Agency
Clermont Real Estate
(203) 675-6902
Listed by
IMTINAN ALZAIDI
Source
Corcoran
Added: Jun 30 Checked: Jul 17 at 2:52 am
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 Clermont Real Estate
Investment Insights
Based on property information with market context.
This property presents a distinctive development opportunity built around an unfinished main structure originally planned for food and event service. The layout is designed to accommodate restaurant, bar, banquet, wedding, and special-event uses, with numerous building components already in place. Interior features include heated flooring, and the unfinished condition allows the next owner to complete and customize the space to match a specific operating concept.
Set on nearly seven acres with lake views, the site includes a covered outdoor event pavilion equipped with restrooms and a kitchen already in place. That pavilion supports outdoor gatherings and celebrations while the balance of the property is completed, helping enable a staged approach to bringing the venue online.
For a buyer seeking a flexible hospitality and events platform, the combination of an event-ready outdoor pavilion and an unfinished indoor venue provides a clear path to tailoring the final buildout. The existing infrastructure elements and heated flooring offer practical building blocks for an operator or developer looking to create a waterfront-oriented dining and private event facility.
Set on nearly seven acres with lake views, the site includes a covered outdoor event pavilion equipped with restrooms and a kitchen already in place. That pavilion supports outdoor gatherings and celebrations while the balance of the property is completed, helping enable a staged approach to bringing the venue online.
For a buyer seeking a flexible hospitality and events platform, the combination of an event-ready outdoor pavilion and an unfinished indoor venue provides a clear path to tailoring the final buildout. The existing infrastructure elements and heated flooring offer practical building blocks for an operator or developer looking to create a waterfront-oriented dining and private event facility.
Key Highlights
- Year built 2017 unfinished restaurant‑style main building on nearly seven acres with lake views
- Heated flooring and numerous building components already in place for continued development
- Covered outdoor event pavilion with restrooms and a kitchen already in place
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.4k | $13.80 |
| − Vacancy | −$4.2k | −$0.97 |
| EGI | $55.2k | $12.83 |
| − OpEx | −$13.8k | −$3.21 |
| NOI | $41.4k | $9.63 |
4,304 SF · lease $13.80/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$591.8K
$517.9K – $690.5K
NOI $41,428 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$999.4K – $1.33M
NOI $79,951 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Spring Grove
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Wedding venue - Unfinished restaurant-style building plus a covered pavilion with restrooms and kitchen, set up for immediate outdoor events.
Where is this wedding venue located?
The property is located at 355 Lakewood Road Waterbury, CT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Year built 2017 unfinished restaurant‑style main building on nearly seven acres with lake views; Heated flooring and numerous building components already in place for continued development; Covered outdoor event pavilion with restrooms and a kitchen already in place
