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    103 Tolland Tpke Manchester, CT 06042

    Sponsored
    For Sale
    $3,900,000

    High-traffic location, strong NOI, excellent opportunity.

    Property size:
    21,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 21,500 square foot, multi-tenant retail property located at 103 Tolland Turnpike in Manchester, Connecticut. The property, situated on a 2.44-acre lot, boasts a prime location along a heavily traveled commercial corridor with approximately 20,000 vehicles per day. The main tenant is Shea's Pizzeria & Sports Bar, a full-service restaurant and bar with extensive indoor and outdoor seating, including Connecticut's largest patio by seating capacity (460 patrons) and an indoor capacity of 269 patrons. A portion of the property is also leased to Winners Racing-Betting-Sports. The property features ample parking for 150 cars. Significant renovations were completed in 2015, encompassing a complete kitchen rehab, dining space, foyer, bar, and restrooms. The roof was replaced in 2022. The property is zoned for business use and offers a 7.80% cap rate with a current NOI of $304,270 and 100% occupancy. The asking price is $3,900,000 ($181.40/sq ft). This sale/leaseback opportunity presents a compelling investment in a thriving commercial area. The property's size, location, and strong tenant occupancy make it an attractive proposition for discerning investors.

    Property Features for 103 Tolland Tpke

    General Information

    Property type
    Restaurants
    Square Feet
    21,500 SF
    Lot Size
    106,286 SF

    Building Details

    Year Renovated
    2015
    Buildings
    1
    Stories
    1

    HighLights

    • ±21,500 square feet on a 2.44‑acre lot.
    • 150‑car parking lot.
    • CT's largest patio, seating 460.
    • 269‑person indoor seating capacity.
    • Complete kitchen, dining area, foyer, bar, and restroom renovation in 2015.
    • New roof installed in 2022.
    Property Profile Location Intelligence

    Current Use by Public Records

    Murphy's Sports Bar Restaurant Winners Manchester Off Track Betting Shop Shea's Pizzeria and Sports ... Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.5104541
    Latitude
    41.8138653

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    FAQs

    What type of property is this?
    Restaurant - High-traffic location, strong NOI, excellent opportunity.
    Where is this restaurant located?
    The property is located at 103 Tolland Tpke Manchester, CT.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: ±21,500 square feet on a 2.44-acre lot.; 150-car parking lot.; CT's largest patio, seating 460.
    Request Owner's contact information
    103 Tolland Tpke Manchester, CT 06042
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    Manchester, CT 06042
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    Realmo Value Estimation

    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.

    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.

    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
    103 Tolland Tpke Manchester, CT 06042
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