Building Details

Year Built 1850

Tenancy Multi

Listing Agency: First Maine Real Estate

Listed By: Paul Connolly Show Phone

Source: Greatislandrealty

Added: Mar 20 Changed: Sep 8 Last Checked: Sep 9 at 11:04AM

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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 First Maine Real Estate

Investment Insights

Based on property information with market context.

This mixed-use property on a large downtown parcel includes a full-service pizza restaurant with a beer and wine license, a Ben & Jerry’s ice cream shop, and a toy and book store. The site also has multiple AirBnB rental units, creating a built-in combination of food and retail operations alongside short-term lodging. The property is arranged with ample parking designed to accommodate the various uses on site, with additional spaces rented to neighboring businesses.

Located in the heart of Dock Square, the parcel is described as one of the largest downtown lots, offering more on-site room for parking and operations than smaller storefront configurations. The property’s downtown setting supports day-to-day retail and restaurant activity while also providing a dedicated presence for the on-site rental component.

For buyers and operators, the tenant mix and use variety offer practical flexibility. One option is to expand the existing business model that includes restaurant service, branded ice cream retail, and specialty toy and book retail. Another option is to bring a new concept to the storefront/food service opportunities while continuing the short-term rental units and leveraging the revenue from parking spaces rented to nearby businesses.

Key Highlights

• Year built: 1850
• Over half‑acre lot in the downtown area with ample on‑site parking
• Full‑service pizza restaurant plus beer & wine license

Property Analytics

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Current Use

The Knotty Elephant (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Auto Repair Shop Electrical Service Pharmacy Plumbing Service Law Firm Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Turnkey business

Opportunity

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

525

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04046, ME

7,893

Population

4,740

Households

1.7

Avg Household Size

51

Median Age

41%

College-Educated

98%

High-School Grad

44.4 sq mi

ZIP Area

178

Density / Sq Mi

$99,861

Median Household Income

$43,000

Median Earnings

$1,250

Median Rent

$559,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Downtown property with a full-service pizza restaurant, packaged food retail, and multiple short-term rental units supported by ample parking.

Where is this conventional restaurant located?

The property is located at 3 Union Street Kennebunkport, ME.

What is the asking price?

The asking price for this property is $3,499,000.

What are key features of this property?

This property features: Year built: 1850; Over half‑acre lot in the downtown area with ample on‑site parking; Full‑service pizza restaurant plus beer & wine license