Restaurant & Retail Space - Prime Market Square Location

Retail-Commercial for Sale
Also listed as Business Opportunity
Catylist Listing ID: 30647602
Property Subtypes: Restaurant, Street Retail
Building Size (RSF): 4,113 SF
Gross Building Area: 7,239 SF
Sale Price: $1,500,000
Unit Price: $364.70 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Clocktower Condominium
Usable Size (USF): 7,239 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/8/2021

Overview / Comments

We are pleased to present for sale Sky Hi Restaurant and the contiguous commercial properties at 37-41 Main Street in the heart of Amesbury's Market Square. The restaurant underwent significant remodeling in the last two years, and the rear deck of the restaurant opens up to the Amesbury's Upper Millyard Amphitheater along the Pow Wow River.

Amesbury is home to many successful restaurants and features an abundance of popular retail shops, craft breweries, professional services, hotels and other businesses, and the Maple Crossing Ice Complex should begin construction soon. Amesbury has a well-earned reputation as a destination for diners from around the region.

The first-floor space for the three properties totals 4,113 square feet, which opens up possibilities to expand the restaurant to include additional dining or entertainment space. The lower level of the restaurant includes storage, walk-in freezer and office space, and there is another 3,126sf of space below 39 & 41 Main.

All information has been obtained from public information, owner, and other sources deemed to be reliable, prospective buyers contemplating this acquisition are urged to conduct appropriate due diligence as to facts related to their specific use. The business will transfer as an asset sale with all FF&E. Properties are Units 1, 2 and 3 of the Clocktower Condominium.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Essex
Taxing Authority: City of Amesbury
Tax ID/APN: 53/271/A,B,C
Zoning: CB
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Visibility: Excellent
Feet of Frontage: 50
Highway Access: I-95 & I-495
Airports: Boston Logan and Manchester Boston Regional
Tenancy: Multiple Tenants
Property Condition: Good
Year Built: 1874
Year Renovated: 2018
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Walking distance to multiple municipal parking lots
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: Central Business Zone
Lot Frontage: 50
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,158 31,617 64,126
Median Age: 40.21 42.44 43.8
Households: 4,235 12,763 26,044
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