Premier Ogunquit Maine Restaurant

Retail-Commercial for Sale
Catylist Listing ID: 28792680
Property Subtypes: Restaurant
Building Size (RSF): 7,988 SF
Gross Building Area: See Agent
Sale Price: $1,950,000
Unit Price: $244.12 PSF
Property Use Type: Business
Building Name: undosclosed
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 8.65%
Last Updated: 8/12/2019

Overview / Comments

This exceptional property has enjoyed an excellent reputation for over 30 years and is a landmark in a heavily frequented Seacoast area of So Maine. The ambiance and layout make it truly a restaurant and lounge to own that also has an accomplished function component. The grounds are magnificent and the potential exists to expand other revenue streams as well. The reputation is impeccable and they serve the finest food and spirits around.
This investment is perfect for a Chef Owner who wants to display their culinary techniques and even offer cooking classes, seminars or events .
The facility can accommodate 200 plus people with a 25 stool bar and surrounding lounge in addition to a potential structure for future development. Parking is ample for a large function of 200 in addition to handling a busy dining room.

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: 14-25
Zoning: COMM/RES
Market Type: Medium
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Ogunquit and Cape Neddick
Side of Street: Northwest
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Confidential
Feet of Frontage: 200
Transportation: Shuttle, Highway, Taxi, Other
Highway Access: 2.5 miles to a major connector
Site Description: The site is rolling in some areas and has an abundance of well manicured trees and shrubs with outcrops of flower beds.
Area Description: The area is residential in nature with businesses very close by.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Excellent
Year Built: 1840
Year Renovated: 1976
Roof Type: Gable
Construction/Siding: Vinyl Siding, Wood Shingle, Other
Exterior Description: Exterior features many large windows that bring the beautiful outside In to the guests. It has a breakup of rooms that allow privacy for smaller parties or can be open to accommodate a large function of 200
Total Parking Spaces: 100
Parking Type: Surface
Parking Description: Open lot 100 feet away
Heat Type: Electricity, Oil
Heat Source: Central, Heat Pump
Air Conditioning: Engineered System, Window Unit
Internet Access: Cable
Interior Description: The interior is rather unique and exudes a New England Classic look. The chairs are upholstered and the carpet is fresh . The walls are filled with antiques and art work
Zoning Description: Although it is in a residential area, the property has an exception to zoning.There is 8.0 acres with the property and an additional 2.0 acres can be purchased that could allow for a high end B&B to be approved of 6 to ten units. A rezoning could also be applied for a 55 plus senior living center which is very conducive to this site.
Lot Frontage: 230
Lot Depth: TBD
Water Service: Well
Sewer Type: Septic
Easements: Other
Land Ownership: Warranty Deed

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 892 6,902 7,510
Median Age: 61.53 50.92 51.5
Households: 498 3,145 3,449

Contact

Photograph of Listing Agent

Arthur J Pappas

Keller Williams Coastal Realty
NECPE Member
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