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Property profile & analytics
OFF-MARKET
Investment properties

246 Main St Portland, CT 06480-4813

5,291 SF 0.15 ac lot Built 1900
Individually Owned 8-yr Hold
Property ID
US15-0188406
Property summary
AI-generated overview

This exceptional business opportunity presents the chance to acquire a thriving restaurant in the heart of Portland, Connecticut. Located at 246 Main Street, this established eatery is a beloved local landmark, known for its charming atmosphere and delicious breakfast and lunch menus, with occasional dinner service. The restaurant boasts a seating capacity of 63 and benefits from a prime location experiencing significant daily traffic. Over 35,000 vehicles pass by daily, with an additional 40,000+ crossing the bridge into Portland, ensuring high visibility and customer access. The property's strategic positioning is further enhanced by the imminent completion of the Brainerd Place high-end housing development, promising increased residential density and a growing customer base. This award-winning restaurant has built a strong reputation, as evidenced by positive online reviews, showcasing its consistent popularity and appeal. This turnkey operation offers a rare opportunity to own a successful business with significant growth potential in a rapidly developing area of Middlesex County. The asking price is $275,000. This represents a compelling investment in a well-established and highly regarded restaurant poised for continued success.

Property profile
Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1900
Construction FRAME
Total area 5,291 SF
Lot 0.15 ac (6,534 SF)
Zoning code B3
APN PORT M:028 B:0042
UPID US15-0188406
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Sarah's on Main Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Wdw Props · 8 yrs held
Wdw Props
since 2018
3 recorded transactions
2018
$246,000
1989
Price N/A
1987
$125,000
Zoning & alternative use
B3 · Portland, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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