388 Broad St Bristol, CT 06010-6636
- Turn key restaurants
- 4,674 SF
- 0.25 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 388 Broad St
- Year built
- 1886
- Construction
- FRAME
- Lot size
- 0.25 lot acres
- Property size
- 4,674 SF
- Zone code
- BG
- Property type
- Turn key restaurants
- APN
- BRIS M:39 L:108
- APU
- BRISM39L108
Description
This exceptional 4,674 square foot commercial property at 388 Broad Street, Bristol, CT, presents a unique investment opportunity. Situated on a 0.85-acre lot, this versatile building boasts easy highway access and ample off-street parking for 52 vehicles. Previously a thriving restaurant, bar, and banquet facility, the property offers a comfortable and established layout, ideal for a variety of commercial uses. Recent renovations by the current owner include significant structural engineering upgrades to both the first and second floors, a new roof, updated windows, and completely overhauled plumbing, heating, and electrical systems. The second floor, currently used for storage, has the potential for conversion into a 2- or 3-bedroom apartment, adding significant rental income potential. The building's history as a successful hospitality venue speaks to its inherent appeal and established customer base. This turnkey property is ready for immediate occupancy and offers significant upside potential for a savvy investor. An adjacent single-family rental property at 374 Broad Street, located in a commercial zone, is also available for purchase, presenting an opportunity to expand your investment portfolio. A comprehensive list of improvements and features is available upon request. Owner financing is available, making this an even more attractive proposition. Don't miss this chance to acquire a prime commercial property in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $290,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $205,000
- 6.5%
- $200,000
- 7%
- $210,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $215,000
- Geo Method
- $185,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $190,000
- Retail
- $195,000
- Mixed-Use
- $225,000
- Hospitality
- $180,000
- Educational
- $190,000
- Residential Income
- $205,000
- Energy
- $190,000
- Income-Based Land
- $195,000
- Food Service
- $240,000
Location Insight
- Map
- Local Demand
- City
- Bristol
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.9117
- Latitude
- 41.6723
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA