Iconic Oceanfront Restaurant with Real Estate

Retail-Commercial for Sale
Catylist Listing ID: 30781808
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 4,950 SF
Gross Building Area: See Agent
Sale Price: $4,500,000
Unit Price: $909.09 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Pier 77
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 1/21/2022

Overview / Comments

Iconic Oceanfront Restaurant with Real Estate! 4,950 sqft of waterfront restaurant space for sale on 1 +/- acre of land. 3 floors with 3 separate well established restaurants included with their own bars, restrooms and outside entrances.

Ramp Pub, 1st floor, and Pier 77, 2nd floor, have outside seating for over 125 occupants. In 2018, the 3rd floor of the property was converted into a Pub, Ramp Up. Inside seating permit per the parking capacity is 125 (outside seating has not been limited). The private parking lot is 100' from the water and includes 50 parking spaces.

The restaurant is to be conveyed fully staffed, including 30 seasonal J-1 employees already lined up for Summer 2022. Housing options available.

Looking for your next investment opportunity? This award winning ocean front restaurant was able to surpass pandemic odds. 5 years P&Ls available upon request.

Attachments & Media

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: KENP-000029-000002-000005B
Zoning: CPS
Highway Access: I-95
Airports: Portland International Jetport, Boston Logan International Airport
Site Description: Waterfront, Oceanfront
Area Description: Scenic, Coastal Village
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Good
Year Built: 1935
Year Renovated: 2018
Roof Type: Gable
Construction/Siding: Wood Siding
Exterior Description: Clapboard
Total Parking Spaces: 50
Parking Type: Surface
Heat Type: Oil, Hot Water
Heat Source: Baseboard, Central, Heat Pump
Air Conditioning: Other
Interior Description: 3 separate establishments with their own bars- Pier 77, The Ramp & Ramp Up.
Zoning Description: CPS
In Flood Plain?: Yes
Lot Frontage: 182
Water Service: Municipal
Sewer Type: Municipal
Easements: Water Rights, Other
Land Ownership: Owned
Legal Description: Map 29, Block 2, Lot 5B

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 549 2,509 8,376
Median Age: 59.32 56.35 51.33
Households: 280 1,189 3,767
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