290 Old Gate LnMilford, CT 06460

Property Details for 290 Old Gate Ln

Year built

1985

Construction

STEEL FRAME

Lot size

1.63 AC

Property size (Sq ft)

6,775 SF

Zone code

ICD

Property type

Showrooms

APN

MILF M:79 B:811 L:8-G

APU

MILFM79B811L8G

Description

This exceptional restaurant opportunity in Milford, Connecticut, presents a unique chance for owner-operators. Located at 290 Old Gate Lane, this 6,771 square foot property boasts a prime location with abundant parking on a 1.6-acre lot. The building features a state-of-the-art three-hood system and two walk-in refrigerators, ensuring efficient and effective kitchen operations. The high visibility location benefits from a significant daily traffic volume of 12,000 vehicles. The property is being offered for sale by the owner at $1,650,000. The sale includes the entire building, offering a complete turnkey operation. The property is currently available for immediate occupancy, with a projected occupancy date of October 8, 2024. This is an ideal opportunity for an experienced restaurateur looking to establish or expand their business in a thriving Connecticut market. The property's size and features make it suitable for a variety of restaurant concepts. The ample parking ensures customer convenience and accessibility. This is a rare opportunity to acquire a well-equipped, high-traffic restaurant in a desirable location. Don't miss out on this chance to own a successful business in a vibrant community. The property is located in New Haven County, Connecticut, with a zip code of 06460.

• CAP approach

  CAP return

  Valuation

  6%

  $1,646,562

  6.5%

  $1,519,903

  7%

  $1,411,338

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,230,758

  Geo Method

  $2,230,758

• Alternative Use

  Use

  Valuation

  Residential

  $1,282,095

  Hospitality

  $1,174,392

  Educational

  $977,080

  Medical

  $1,010,684

  Retail

  $1,519,903

Location Insight

City

Milford

County

New Haven

State

Connecticut

Latitude

41.2334

Longitude

-73.0277

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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