237 New Britain RdBerlin, CT 06037

Property Details for 237 New Britain Rd

Year built

2008

Construction

FRAME

Lot size

0.97 AC

Property size (Sq ft)

8,514 SF

Zone code

CCD-1

Property type

Turn key restaurants

APN

BERL M:3-3 B:28 L:14

APU

BERLM33B28L14

Description

This exceptional 8,514 square foot commercial property, situated on a 0.97-acre lot at 237 New Britain Road in Berlin, CT, presents a unique investment opportunity. Currently operating as a successful ethnic restaurant for over 25 years, the property includes all furniture, fixtures, and equipment (FF&E) within the asking price of $1,695,000. The stunning interior and exterior boast a five-star design, creating an elegant and versatile space ideal for a variety of uses. A highlight is the magnificent ballroom, capable of accommodating up to 220 guests, perfect for large-scale corporate events, weddings, and other celebrations. Additionally, a private upstairs area can host smaller gatherings of up to 40 people. The property's established history and high-quality amenities offer immediate income potential and significant long-term growth prospects. Owner financing is negotiable, making this an attractive proposition for discerning investors seeking a turnkey operation in a desirable Connecticut location. The property's prime location and versatile design make it an exceptional opportunity for both established businesses and new ventures. The inclusion of all FF&E streamlines the transition process for a seamless takeover. This is a rare chance to acquire a well-established, high-quality commercial property with significant earning potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,069,199

  6.5%

  $1,910,030

  7%

  $1,773,599

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,803,347

  Geo Method

  $2,803,347

• Alternative Use

  Use

  Valuation

  Residential

  $1,611,182

  Hospitality

  $1,475,834

  Educational

  $1,227,876

  Medical

  $1,270,105

  Retail

  $1,910,030

Location Insight

City

Berlin

County

Hartford

State

Connecticut

Latitude

41.6423

Longitude

-72.7695

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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