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    Bristol Maine Commercial Wharf Restaurant Title is generated by Realmo AI

    127 129 State Route 32, Bristol, ME 04554

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    Claim this Listing
    For Sale
    $2,500,000

    COMMERCIAL - Bristol, ME

    Property size:
    7,084 SF
    Lot size:
    0.66 Acres
    Price / SF:
    $352/SF
    Added:
    Apr 27, 2026
    Days on Market:
    37
    Last Refresh:
    Jun 2 at 9:06 am

    Property Features for 127 129 State Route 32

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commerical
    Standard status
    Active
    Size
    7,084 SF
    Lot size
    0.66 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    15467

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Baseboard, Hot Water(Heating), Oil
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1940
    Building materials
    Wood Frame, Shingle Siding, Wood Siding
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Deborah Fox

    Listing agent Deborah Fox

    Listing office Legacy Properties Sotheby's International Realty 40 Main Street, Portland, ME

    Listing date Apr 27, 2026

    MLS# 1626100

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Established, income‑producing restaurant seating 300+ with a lively bar and weekly bands.
    • 13,000 sq ft commercial wharf for retail and wholesale lobster sales.
    • Lease income from a tour boat company providing tours to Monhegan and other areas.
    • Fantastic location.
    • Includes a lobster pound/bait shed and office in separate buildings.
    • Historical significance as a filming location for 'Message in a Bottle'.

    Overview

    For sale is a commercial property featuring a restaurant and wharf. The restaurant has been in operation for over 30 years and offers seating for over 300 patrons both inside and outside, along with a bar area that hosts weekly bands. The property includes a 13,000 square foot commercial wharf, according to town records, which is used for selling lobsters to both the public and wholesale clients. Additionally, the wharf leases space to a tour boat company that provides tours to Monhegan and other destinations. The property also includes two separate buildings that house a lobster pound, bait shed, and office space. The property is zoned commercial and occupies a 0.66-acre lot. The property is 7,084 square feet. The location was used as a filming location for the movie 'Message in a Bottle'.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Map

    City
    Bristol
    County
    Lincoln
    State
    Maine
    Longitude
    -69.5059
    Latitude
    43.8583

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    FAQs

    What type of property is this?
    Conventional restaurant - Profitable restaurant and commercial wharf in Bristol, Maine for sale.
    Where is this conventional restaurant located?
    The property is located at 127 129 State Route 32 Bristol, ME.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Established, income‑producing restaurant **seating 300+ with a lively bar and weekly bands.**; **13,000 sq ft commercial wharf for retail and wholesale lobster sales.**; Lease income from a tour boat company providing tours to Monhegan and other areas.
    (207) 350-1474
    We can help!
    Listing Contact
    Deborah Fox
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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