Catylist ID:
#30794315
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: | $574,916 (Annual) |
| Last Updated: | 7/15/2024 |
Overview / Comments
|
Well-established Midcoast restaurant located in a popular high traffic tourist area. The restaurant specializes in fresh seafood complimented by great steak in a fun atmosphere including gorgeous views of the Maine coast. Customers come from all over the world, but the owner makes a concerted effort to cater to the locals. The hardworking, dedicated employees are treated like family and come back year after year, contributing to the restaurant's longtime success. This restaurant can accommodate busses and can cater weddings for groups of 50 to 300 guests in its function area. They have the parking, staff, the kitchen space, and the ability to do what no other restaurant in Maine can. |
Additional Details
| Industry Segment: | Restaurants |
| Reason for Selling: | Retiring |
| Value of Inventory Included ($): | $0 |
| Value of Furniture, Fixtures, and Equipment ($): | $187,300 |
| Real Estate Status: | Real Property |
| Value of Real Estate Included ($): | $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
Kirk A ButterfieldMagnusson Balfour/KW Commercial a div. of Keller Williams RealtyNECPE Member 
Craig S. ChurchMagnusson Balfour/KW Commercial a div. of Keller Williams RealtyNECPE Member |
| © Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Moody's assume any liability for errors or omissions. |
