Waterfront Restaurant/Event Center

Undisclosed Address, Maine
Business Opportunity for Sale
Catylist Listing ID: 30794315
Property Subtypes: Food and Beverage
Building Size (RSF): 16,310 SF
Sale Price: $3,995,000
Gross Revenue: $2,455,188 (Annual)
Cash Flow: $574,916 (Annual)
Last Updated: 6/10/2024

Overview / Comments

Well-established Midcoast restaurant located in a popular high traffic tourist area. The restaurant specializes in fresh seafood complimented by great steak in a fun atmosphere including gorgeous views of the Maine coast. Customers come from all over the world, but the owner makes a concerted effort to cater to the locals. The hardworking, dedicated employees are treated like family and come back year after year, contributing to the restaurant's longtime success.

This restaurant can accommodate busses and can cater weddings for groups of 50 to 300 guests in its function area. They have the parking, staff, the kitchen space, and the ability to do what no other restaurant in Maine can.





Additional Details

Industry Segment: Restaurants
Reason for Selling: Retiring
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $187,300
Real Estate Status: Real Property
Value of Real Estate Included ($): $3,292,000
Real Estate Lease Description: 16,310+/- SF restaurant/event center that can seat over 600 guests and has parking for 500 cars.
Employee/Labor Description: 24 FT /3 PT plus full-time owner
Mgmt/Training Support Description: Seller is willing to work with the new owners in order to show them everything they need to succeed.
Competition/Market Description: The business began offering online ordering in addition to dine-in service in 2021. This proved to be successful. There are other restaurants in the area that serve seafood, but none do it on the scale that this restaurant does.
Growth/Expansion Opportunities: Growing the restaurant’s Instagram account could potentially reach a new segment of potential customers, as could increasing advertising to a wider demographic.

Contact

Photograph of Listing Agent

Kirk A Butterfield

Magnusson Balfour/KW Commercial a div. of Keller Williams Realty
NECPE Member
Photograph of Listing Agent

Craig S. Church

Magnusson Balfour/KW Commercial a div. of Keller Williams Realty
NECPE Member
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