Renovated Mixed-Use Restaurant
For Sale
$489,900
Pending
2149 Medway Road, Medway, ME 04460
Restaurant and bar property with two efficiency apartments, updated interiors, commercial zoning, and upgraded mechanical systems.
Property Size5,800 SF
Days on Market326
Property Features for 2149 Medway Road
General Information
Standard status
Pending
Size
5,800 SF
Property subtype
Commercial / Mixed Use
Zoning
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,247
Amenities
Heat Pump
Zoned, Pellet Stove, Hot Water, Heat Pump, Baseboard
Slab2
Tile, Concrete
Yes
Storage
Slab
Level Entry
.00
Pitched, Shingle
Vinyl Siding, Wood Frame
Building Details
Year Built
2007
Listing Agency:
North Woods Real Estate, LLC
Listed By:
James Plourde
(207) 723-1791
Source:
Compass
Added: Nov 24, 2025
Changed: Oct 8
Last Checked: Oct 15 at 1:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of North Woods Real Estate, LLC
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Investment Insights
Based on property information with market context.
Located at 2149 Medway Road in Medway, ME 04460, this mixed-use commercial property combines an operating restaurant and bar with two new 1-bedroom efficiency apartments. The interior has been renovated and includes modern equipment, storage, tile and concrete surfaces, and a slab foundation. Five pool tables and nightly pool leagues are part of the existing business setup.
The property carries Commercial zoning and was built in 2007. Mechanical improvements include two newer boilers and three new heat pumps, supported by additional heating features including baseboard heat and a pellet stove. The current owner is willing to remain temporarily to assist with training and the ownership transition.
The property carries Commercial zoning and was built in 2007. Mechanical improvements include two newer boilers and three new heat pumps, supported by additional heating features including baseboard heat and a pellet stove. The current owner is willing to remain temporarily to assist with training and the ownership transition.
Key Highlights
- Restaurant and bar with five pool tables and nightly pool leagues
- Two new 1‑bedroom efficiency apartments
- Renovated interior with modern restaurant equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,564
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,280
$831.3K
Cap Rate 7%
$593,771
$593.8K
Cap Rate 9%
$461,822
$461.8K
Market Conditions
NOI Build-Up for 5,800 SF
Gross rent
$73.1K $12.60/SF
− Vacancy
−$6.6K −$1.13/SF
EGI
$66.5K $11.47/SF
− OpEx
−$24.9K −$4.30/SF
NOI
$41.6K $7.17/SF
Area
Penobscot County, ME
Vacancy
9.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,280
Cap Rate 7%
$593,771
Cap Rate 9%
$461,822
Alternative Uses
Best Use
Specialty Retail
$1.13M
$987.7K – $1.32M
NOI $79,012 @ 7.0% cap · market cap 16.13%
Second Best
Mixed Use
$593.8K
$519.6K – $692.7K
NOI $41,564 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,126 @ 7.0% cap · market cap 26.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
3,720 visits/mo
0.2 miles
Demographics for 04460, ME
1,236
Population
654
Households
1.9
Avg Household Size
53
Median Age
8%
College-Educated
88%
High-School Grad
76.7 sq mi
ZIP Area
16
Density / Sq Mi
$46,125
Median Household Income
$28,200
Median Earnings
$766
Median Rent
$84,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant and bar property with two efficiency apartments, updated interiors, commercial zoning, and upgraded mechanical systems.
Where is this mixed-use property located?
The property is located at 2149 Medway Road Medway, ME.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Restaurant and bar with five pool tables and nightly pool leagues; Two new 1‑bedroom efficiency apartments; Renovated interior with modern restaurant equipment
