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348 Boston Post Rd

Orange, CT 06477

$3,846,154

Restaurant For Sale  •  7,675 Sq Ft

Property Details

  • Property Type Restaurant
  • Total Building Size 7,675 Sq Ft
  • Lot Size 2.77 ac
  • Building Class C
  • Year Built 1995
  • Cap Rate 6.50 %
  • Tenancy Single
39 Transit Score
42 Walk Score

Description

This TGI Fridays property is located at 348 Boston Post Rd in Orange, Connecticut. The subject property is strategically situated in a dense retail corridor consisting of numerous national and local retail and restaurant concepts. Major national tenants in the immediate area include: Target, Best Buy, PetSmart, Taco Bell, Popeyes, CVS, Olive Garden, Costco, Whole Foods, IHOP, The Home Depot, Subway, Chase Bank, Harbor Freight Tools, Burger King, Walgreens, Burlington, and Lowe’s. 

The subject property is located less than one mile from Yale West Campus, which is a part of the Yale University system, and has a total enrollment of roughly 12,500 students. The west campus is home to several renowned schools, including the Yale School of Nursing. In addition to Yale West Campus, the subject property benefits from its close proximity to Platt Technical High School and Harborside Middle School, which have a total enrollment of nearly 1,400 students and are both located within two-miles of the subject property.
The subject property benefits from its position on Boston Post Road, at the intersection with Lambert Road. These roads have average daily traffic counts of 21,000 and 15,000 vehicles, respectively. The subject property also benefits from being located just down the street from a point of ingress and egress to Interstate-95, which brings a total of 129,000 vehicles into the area each day. There are roughly 62,000 people living within a three-mile radius of the subject property and just under 157,000 people residing within a five-mile radius.

Orange is a town in New Haven, Connecticut, and is located roughly five miles west of New Haven, which is a costal city in the U.S. state of Connecticut. It is located on New Haven Harbor on the northern shore of the Long Island Sound in New Haven County, CT and is a part of the New York MSA. The city is the second largest city in Connecticut after Bridgeport, and is the principal municipality of Greater New Haven. The city was the first planned city in America and was founded by English Puritans in 1638. Within a year, the city had grown out to a four-by-four grid, creating what is commonly known as the “Nine Square Plan”. New Haven is home to Yale University, which serves as an integral part of the city’s economy. The city’s economy was originally based in manufacturing but today the it has become more focused on health care (hospitals and biotechnology) and professional services (legal, architectural, marketing, and engineering), while financial services and retail trade also significantly contribute to the city’s economic activity.

Highlights

Passive investment offering a long-term security of cash flow
Attractive rental increases
Recently remodeled and significant capital improvements made
Located approximately five miles from New Haven the second largest city in Connecticut
Average daily traffic counts of 21,000 and 129,000 vehicles respectively
Cap Rate: 6.50 %

Public Transportation

Commuter RailDriveWalkDistance
Milford Station Commuter Rail (New Haven Line) 8 min - 4.0 mi
Union Station Commuter Rail (Shore East Line) 9 min - 5.4 mi
AirportDriveWalkDistance
Tweed-New Haven Airport 18 min - 9.7 mi
Glen Kunofsky 212-430-5100 Marcus & Millichap Inc
Glen Kunofsky 212-430-5100 Marcus & Millichap Inc