364 School St Putnam, CT 06260-1336

Property Details for 364 School St

Year built

1960

Construction

FRAME

Lot size

0.17 lot acres

Property size

2,064 SF

Property type

Showrooms

APN

PUTN M:008 L:138 U:000

APU

PUTNM008L138U000

Description

This exceptional commercial property at 364 School St, Putnam, CT presents a unique investment opportunity. For 25 years, this mixed-use building has housed a thriving pizza restaurant on the ground floor and a residential apartment upstairs. The restaurant boasts a proven track record of success, demonstrating consistent year-over-year revenue growth of 8-10%. The current business model emphasizes takeout orders, minimizing operational costs associated with advertising, waitstaff, and delivery services. The property includes all real estate, fixtures, equipment, and inventory, offering a true turnkey operation. Potential buyers can seamlessly take over the established business, leveraging its existing customer base and profitability. Alternatively, the property can be utilized as a rental investment, generating income from both the commercial and residential units. The building features ample parking and a convenient drive-under garage door for efficient loading. The electrical service is a substantial 400 amps. The 0.17-acre lot is strategically located on Route 44, near Walmart and within a 6/10 mile radius of I-395 exit, ensuring high visibility and accessibility. A lease with an option to purchase or a closing at a later date is also negotiable, contingent upon a substantial deposit to cover the equipment value. This is a rare chance to acquire a well-established, profitable business with significant upside potential. The long-term owner, with 30 years in the business and 25 at this location, is ready for a new chapter.

Location Insight

City

Putnam

County

Windham

State

Connecticut

Longitude

-71.8989

Latitude

41.9234

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments