Restaurant with Renovated
For Sale
$599,900
251 N North High St, Bridgton, ME 04009
Fully equipped restaurant with dining, wet bar, parking, and an accompanying renovated residence with storage space.
Property Size3,266 SF
Price / SF$183.68
Days on Market35
Property Features for 251 N North High St
General Information
Standard status
Active
Size
3,266 SF
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
9999
Listing Agency:
Pine Tree Realty of Maine
Listed By:
Richard Vraux
Source:
Soldbymichaelthomas
Added: Jul 25
Changed: Aug 28
Last Checked: Aug 28 at 12:45PM
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 Pine Tree Realty of Maine
Investment Insights
Based on property information with market context.
This restaurant property includes a fully equipped kitchen with stoves, freezers, and refrigerators, along with a dedicated dining area and wet bar. The offering also includes the restaurant’s entire stock, providing a broad set of operating contents with the sale. On-site parking is available for vehicles.
A newly renovated residence is part of the property, configured with 7 rooms, 3 bedrooms, and 1 bath. The garage has been converted into a large storage room, adding useful support space for the restaurant and home. The property is near shopping, golf, Pleasant Mountain ski resort, and Highland Lake, with the lake described as a short walk away.
A newly renovated residence is part of the property, configured with 7 rooms, 3 bedrooms, and 1 bath. The garage has been converted into a large storage room, adding useful support space for the restaurant and home. The property is near shopping, golf, Pleasant Mountain ski resort, and Highland Lake, with the lake described as a short walk away.
Key Highlights
- Fully equipped kitchen with stoves, freezers, and refrigerators
- Restaurant includes a full dining area and wet bar
- Newly renovated 7 Room/3 Bedroom 1 Bath home included
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 - Fully equipped restaurant with dining, wet bar, parking, and an accompanying renovated residence with storage space.
Where is this conventional restaurant located?
The property is located at 251 N North High St 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: Fully equipped kitchen with stoves, freezers, and refrigerators; Restaurant includes a full dining area and wet bar; Newly renovated 7 Room/3 Bedroom 1 Bath home included
