575 Norwich Ave Norwich, CT 06380
This exceptional 5,000-square-foot free-standing building, completely renovated in 2024, presents a unique opportunity for a restaurant in Taftville, Connecticut. Situated directly across from the Ponemah Mills Complex, this two-story property benefits from its central location within a thriving redevelopment project. The Ponemah Mills redevelopment includes over 600 new apartments (Phases 1 & 2 completed or under construction), creating a substantial built-in customer base. The building's historical charm has been meticulously preserved during its recent renovation, offering a blend of character and modern amenities. Its convenient location, less than half a mile from I-395 and under five miles from downtown Norwich, ensures excellent accessibility. Furthermore, its proximity to the major casinos, Foxwoods and Mohegan Sun, and the expanding Electric Boat facility in Groton, contributes to a robust and growing regional economy, fueling increased demand for housing and local amenities. The property is part of the New London metropolitan area, known for its cultural attractions, top-rated beaches, and diverse residential and commercial zones. Flexible lease options and competitive rates are available to support new businesses. This is an unparalleled opportunity to establish a thriving restaurant in a dynamic and rapidly developing community.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.