Restaurant with Covered
355 Main Street, Ogunquit, ME 03907
For Sale
$3,500,000
A dining room, separate sports bar, outdoor gathering areas, and professional kitchen support a varied restaurant operation.
Property Size10,923 SF
Price / SF$320.42
Days on Market250
Property Features for 355 Main Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Restaurant
Seating Capacity
Patio
Additional Details
Currently Operating
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
The Aland Realty Group, LLC
(207) 251-4762
Listed By:
Gail Bergeron
(207) 251-0632
Source:
Integrityhomesrealestategroup
Added: Mar 9
Changed: Nov 11
Last Checked: Nov 12 at 11:57PM
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 The Aland Realty Group, LLC
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Investment Insights
Based on property information with market context.
This Ogunquit restaurant includes 4,680 square feet of interior space, with a main dining room and a separate sports bar. Approved capacity is 200 seats. A 1,365-square-foot covered patio extends the dining area, while the landscaped grounds include an outdoor bar, fire pits, lawn seating, patio tables, and a bocce court. The commercial kitchen has walk-in coolers and freezers, and a full dry basement provides additional storage. The property was built in 1984 and is zoned GB2.
Parking includes 68 paved spaces and 9 additional spaces in an adjacent gravel lot designated for staff. The restaurant currently operates seasonally, opening at 4 p.m. daily and closing briefly during winter.
Parking includes 68 paved spaces and 9 additional spaces in an adjacent gravel lot designated for staff. The restaurant currently operates seasonally, opening at 4 p.m. daily and closing briefly during winter.
Key Highlights
- 4,680 SF restaurant with approved seating for 200
- 1,365‑square‑foot covered patio
- 68 paved parking spaces plus 9 staff spaces in an adjacent gravel lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,110
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,642,200
$2.6M
Cap Rate 7%
$1,887,286
$1.9M
Cap Rate 9%
$1,467,889
$1.5M
Market Conditions
NOI Build-Up for 10,923 SF
Gross rent
$196.6K $18.00/SF
− Vacancy
−$20.5K −$1.87/SF
EGI
$176.1K $16.13/SF
− OpEx
−$44.0K −$4.03/SF
NOI
$132.1K $12.09/SF
Area
York County, ME
Vacancy
10.41%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,642,200
Cap Rate 7%
$1,887,286
Cap Rate 9%
$1,467,889
Alternative Uses
Best Use
Specialty Retail
$1.89M
$1.65M – $2.20M
NOI $132,110 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,378 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Bangor Savings Bank
Shops & Services
2,608 visits/mo
0.5 miles
Demographics for 03907, ME
1,577
Population
2,106
Households
0.7
Avg Household Size
62
Median Age
68%
College-Educated
99%
High-School Grad
4.1 sq mi
ZIP Area
385
Density / Sq Mi
$104,250
Median Household Income
$72,778
Median Earnings
$1,736
Median Rent
$799,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in York County, ME
Properties on Market for Conventional restaurants in York County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A dining room, separate sports bar, outdoor gathering areas, and professional kitchen support a varied restaurant operation.
Where is this conventional restaurant located?
The property is located at 355 Main Street Ogunquit, ME.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 4,680 SF restaurant with approved seating for 200; 1,365‑square‑foot covered patio; 68 paved parking spaces plus 9 staff spaces in an adjacent gravel lot
