Turnkey Restaurant - Farmingdale

Withdrawn Retail-Commercial for Sale
Catylist Listing ID: 30148548
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 2,800 SF
Gross Land Area: 1.05 Acres
Sale Price: $549,000
Unit Price: $196.07 PSF
Ceiling: 8 ft.
Property Use Type: Business
Building Name: Hi Top Pancake House
Sale Terms: Owner Financing, Other
Cap Rate: Undisclosed
Withdrawn On: 11/1/2017
Last Updated: 11/1/2017

Overview / Comments

Turnkey Operation & Property - 2,800 SF Restaurant on 1± Acre with 40±-car parking lot. The owner will hold the first mortgage for qualified buyers; therefore, no bank approval, financing or some of the associated costs are involved.
Financials and FF&E complete list available—contact broker; recent improvements include new bathroom, energy efficient furnace, grease trap, double-pane windows.
Great location across from Kennebec River and on the route to the State Capitol in Augusta. Traffic Count Is 14,000± VPD driving by this location.
The owner will hold the first mortgage for qualified buyers; therefore, no bank approval, financing or some of the associated costs are involved.

The Hi-Hat Pancake House is primarily a breakfast and lunch restaurant with dinners served on Friday night. The use could certainly be expanded to all three meals. Hours of operation 7 days a week are 6 AM to 2 PM except Friday when it stays open till 8 PM.

Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Taxing Authority: Farmingdale
Tax ID/APN: Map 16, Lot 044; Map 16 Lot 049
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Visibility: Excellent
Largest Nearby Street: Route 201
Feet of Frontage: 191
Traffic/Vehicle Count: 14,000
Site Description: Level, across from the Kennebec River
Area Description: The turn-key facility is located on Maine Avenue (Route 201) in Farmingdale which leads from Gardner to the state capitol in Augusta. There are approximately 14,000 vehicles per day driving by the location. It is also located directly across from the Kennebec River and the recreational river trail system. A strip of land on the river side comes with the property and helps to ensure protected water views.
Tenancy: Single Tenant
Total Number of Buildings: 1
Year Built: 1950
Roof Type: Gable
Construction/Siding: Vinyl Siding
Total Parking Spaces: 40
Parking Type: Surface
Heat Type: Propane
Air Conditioning: Other
Interior Description: Large main dining room with additional booth and stool seating in the original building. Seats 77± (more possible)
Lot Frontage: 191
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,319 11,260 27,999
Median Age: 41.6 43.08 43.89
Households: 1,458 4,878 12,205


Photograph of Listing Agent

John F. Doyon, CCIM

Malone Commercial Brokers NECPE Member
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