The longtime owner of Adams Corner’s oldest commercial building has entered into an agreement to sell the property to a trio of local investors. Gerard Adomunes, who has owned and operated Gerard’s Restaurant and Adams Corner General Store since 1977, told employees on Wednesday that the sale of the building at 772 Adams St. should be completed by the end of November.

The buyers are a trio of men with deep Dorchester roots: Christopher Roche, Russ DeMariano and Ed Brooks. They have already met with the executive board of the Cedar Grove Civic Association to outline their initial plans for the restoration and reuse of the building.

“Our goal is to preserve the integrity of the neighborhood and rejuvenate the business district, including a complete restoration of the restaurant,” said Roche, who said the men have all been customers at Gerard’s for their entire lives. “Everything will be through a community process with full transparency.”

Adomunes has been a fixture at the corner of Adams and Minot streets for more than 45 years. He started working at the corner store as a teenager and bought the building at age 20.

“I vowed to build this business and gave it my all,” Adomunes wrote in a letter to employees distributed on Wednesday. “I worked closely with my employees to create a good workplace environment, committed to offering exceptional value and convenience to our neighbors from the area.”

Lauren Woods, the president of the Cedar Grove Civic Association, said this week that neighbors are excited that the new ownership group will be composed of local people.

“It’s great to see people who are living here and invested in our neighborhood invest more. Gerard’s is a staple building and it needs some love. Gerard Adomunes has been such a great community partner for so long,” said Woods.

The sale — once complete— will be the latest in a flurry of real estate activity in the Adams Village business district. Last summer, a real estate trust purchased a collection of storefront condos across from Gerard’s at 775-789A Adams St. for more than $1.5 million. The same buyers— a father-and-son team of Peter and John Lydon— also intend to buy a second, larger building at 526 Gallivan Blvd. from longtime owner Arthur Murphy.

Another landmark eatery— Sonny’s— is also poised to be sold to a new owner as well. Details of that proposal were aired at a community meeting held at the restaurant and bar on Tuesday night.