49 Main StSprague, CT 06330

Property Details for 49 Main St

Year built

1880

Construction

STEEL FRAME

Lot size

0.10 AC

Property size (Sq ft)

2,121 SF

Zone code

C-2

Property type

Other commercial real estate

Property subtype

Showrooms

APN

SPRA M:26 B:01 L:03

APU

SPRAM26B01L03

Description

This exceptional investment opportunity presents a fully operational restaurant located at 49 W. Main Street in Sprague, Connecticut, within the desirable C-2 zoned district. The property boasts a 0.1-acre lot and encompasses a well-established restaurant space with a proven track record. Previously a thriving breakfast establishment and more recently a pizza restaurant, this 40-seat eatery is equipped for immediate operation. The turnkey setup includes essential commercial kitchen equipment such as two walk-in coolers, a grill, and an oven, minimizing the need for significant upfront investment. The restaurant's history demonstrates its viability within the local market, offering a strong foundation for continued success. Adding to its appeal is a residential apartment situated above the restaurant, providing additional income potential or convenient owner's housing. The property's prime location in downtown Baltic ensures high visibility and accessibility to a steady stream of customers. This combined commercial and residential property presents a rare opportunity to acquire a profitable business with significant upside potential in a thriving Connecticut community. The asking price is $495,000. The property is situated in New London County, Connecticut, zip code 06330.

• CAP approach

  CAP return

  Valuation

  6%

  $515,477

  6.5%

  $475,825

  7%

  $441,837

• Comparable approach

  Method

  Valuation

  Relative Method

  $698,367

  Geo Method

  $698,367

• Alternative Use

  Use

  Valuation

  Residential

  $401,376

  Hospitality

  $367,658

  Educational

  $305,887

  Medical

  $316,407

  Retail

  $475,825

Location Insight

City

Baltic

County

New London

State

Connecticut

Latitude

41.6165

Longitude

-72.0872

CBSA code

35980

CBSA name

NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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