Turnkey Lake-Access Restaurant with Storage
For Sale
$599,900
251 N High Street, Bridgton, ME 04009
COMMERCIAL - Bridgton, ME
Property Size3,266 SF
Lot Size1.06 Acres
Price / SF$183.68
Days on Market115
Property Features for 251 N High Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial/ Resident
Basement
Crawl Space
Accessibility
Accessible Approach with Ramp
Lot features
Near Turnpike/ Interstate, Near Shopping, Rural
Standard status
Active
Size
3,266 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4298
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Forced Air, Heat Pump (Heating), Natural Gas, Oil
Cooling system
Heat Pump, Wall Unit(s)
Water source
Private, Well
Water front features
Lake
Water front
1
Building Details
Flooring type
Vinyl, Tile
Building materials
Wood Frame, Wood Siding
Roof type
Shingle, Fiberglass
Listing Agency:
Pine Tree Realty of Maine
(207) 893-8006
Listed By:
Richard Vraux
(207) 317-1297
Added: Apr 20
Changed: Aug 4
Last Checked: Aug 12 at 6:06PM
MLS# 1638615
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.
Investment Insights
Based on property information with market context.
Turnkey conventional restaurant offering a fully equipped operation with a complete dining area and wet bar area. The sale includes the fully equipped kitchen with stoves, freezers, and refrigerators, along with the entire stock. The property also includes a newly renovated 7-room, 3-bedroom, 1-bath home and garage that have been turned into a large storage room, with plenty of room for vehicle parking.
Set on 1.06 acres at 251 N High Street in Bridgton, Maine, the property is in the lakes region and is described as a short walk to Highland Lake. The site is also positioned close to shopping, golf, and Pleasant Mountain ski resort and skiing for the winters.
The building is wood frame with wood siding, vinyl and tile flooring, and a shingle/fiberglass roof. Heating and cooling include heat pump and forced air systems with natural gas and oil sources, plus wall units and heat pump cooling. The property features an accessible approach with ramp, private well water, and septic tank/private sewer service.
Set on 1.06 acres at 251 N High Street in Bridgton, Maine, the property is in the lakes region and is described as a short walk to Highland Lake. The site is also positioned close to shopping, golf, and Pleasant Mountain ski resort and skiing for the winters.
The building is wood frame with wood siding, vinyl and tile flooring, and a shingle/fiberglass roof. Heating and cooling include heat pump and forced air systems with natural gas and oil sources, plus wall units and heat pump cooling. The property features an accessible approach with ramp, private well water, and septic tank/private sewer service.
Key Highlights
- 1.06‑acre property with 3,266 SF restaurant building
- Fully equipped kitchen with stoves, freezers, refrigerators plus dining area and wet bar
- Includes entire stock and turnkey restaurant setup
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,596
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$731,920
$731.9K
Cap Rate 7%
$522,800
$522.8K
Cap Rate 9%
$406,622
$406.6K
Market Conditions
NOI Build-Up for 3,266 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.8K $18.00/SF
− Vacancy
−$10.0K −$3.06/SF
EGI
$48.8K $14.94/SF
− OpEx
−$12.2K −$3.74/SF
NOI
$36.6K $11.21/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$731,920
Cap Rate 7%
$522,800
Cap Rate 9%
$406,622
Alternative Uses
Best Use
Specialty Retail
$522.8K
$457.5K – $609.9K
NOI $36,596 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$897.7K
$785.5K – $1.05M
NOI $62,836 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04009, ME
5,298
Population
4,580
Households
1.2
Avg Household Size
51
Median Age
32%
College-Educated
93%
High-School Grad
56.5 sq mi
ZIP Area
94
Density / Sq Mi
$86,386
Median Household Income
$48,737
Median Earnings
$1,196
Median Rent
$286,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant with fully equipped kitchen, dining and wet bar, plus an accessible approach and nearby lakes region recreation.
Where is this conventional restaurant located?
The property is located at 251 N High Street Bridgton, ME.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 1.06‑acre property with 3,266 SF restaurant building; Fully equipped kitchen with stoves, freezers, refrigerators plus dining area and wet bar; Includes entire stock and turnkey restaurant setup
