Restaurant with Full
For Sale
$679,000
56 Main Street, Harrison, ME 04040
Restaurant offering 125 seats, a full bar with live music, and wheelchair accessibility, with on-site four-season recreation access.
Property Size4,485 SF
Price / SF$151.39
Days on Market147
Property Features for 56 Main Street
General Information
Standard status
Active
Size
4,485 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Utilities to Site
Yes
Heavy Power
Yes
Amenities
full bar
live music
fireplace lounge
direct trail access
town boat docks
central air conditioning
full wheelchair accessibility
Building Details
Year Built
9999
Year Renovated
1996
Construction
wood-frame
Listing Agency:
Oberg Insurance & Real Estate Agency,Inc.
Listed By:
Jaime Rolfe
(603) 433-3350
Source:
Greatislandrealty
Added: Apr 15
Changed: Sep 7
Last Checked: Sep 8 at 6:56AM
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 Oberg Insurance & Real Estate Agency,Inc.
Investment Insights
Based on property information with market context.
This wood-frame restaurant and tavern was extensively renovated in 1996 and includes a metal roof, hardwood and tile floors, and a granite, block, and poured concrete foundation with a full walk-out basement. The operation includes 125 seats and a full bar with live music, along with a cozy fireplace lounge. The building also provides full wheelchair accessibility.
Located at 56 Main Street in Harrison Village, the property sits between Long Lake and Crystal Lake, in the business district/downtown area near shopping and within a historic district. Trail access behind the building connects for snowmobilers in winter and lake boaters in summer via direct access, and town boat docks are across the street.
Commercial-grade utilities include three-phase power, zoned forced-air heating with a pellet stove, central air conditioning, public water, and private sewer.
Located at 56 Main Street in Harrison Village, the property sits between Long Lake and Crystal Lake, in the business district/downtown area near shopping and within a historic district. Trail access behind the building connects for snowmobilers in winter and lake boaters in summer via direct access, and town boat docks are across the street.
Commercial-grade utilities include three-phase power, zoned forced-air heating with a pellet stove, central air conditioning, public water, and private sewer.
Key Highlights
- Restaurant at 56 Main Street with 125 seats, full bar, and live music
- Four‑season recreation access: direct trail access behind the building and town boat docks across the street
- Extensively renovated in 1996; wood‑frame building with metal roof, hardwood and tile floors, and a granite/block/poured concrete foundation with full walk‑out basement
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
$50,254
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
7.40%
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%
$1,005,080
$1.0M
Cap Rate 7%
$717,914
$717.9K
Cap Rate 9%
$558,378
$558.4K
Market Conditions
NOI Build-Up for 4,485 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
$80.7K $18.00/SF
− Vacancy
−$13.7K −$3.06/SF
EGI
$67.0K $14.94/SF
− OpEx
−$16.8K −$3.74/SF
NOI
$50.3K $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%
$1,005,080
Cap Rate 7%
$717,914
Cap Rate 9%
$558,378
Alternative Uses
Best Use
Specialty Retail
$717.9K
$628.2K – $837.6K
NOI $50,254 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,289 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Heavy power
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04040, ME
2,853
Population
2,128
Households
1.3
Avg Household Size
52
Median Age
32%
College-Educated
94%
High-School Grad
62.0 sq mi
ZIP Area
46
Density / Sq Mi
$58,267
Median Household Income
$40,176
Median Earnings
$795
Median Rent
$243,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant offering 125 seats, a full bar with live music, and wheelchair accessibility, with on-site four-season recreation access.
Where is this conventional restaurant located?
The property is located at 56 Main Street Harrison, ME.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Restaurant at 56 Main Street with 125 seats, full bar, and live music; Four‑season recreation access: direct trail access behind the building and town boat docks across the street; Extensively renovated in 1996; wood‑frame building with metal roof, hardwood and tile floors, and a granite/block/poured concrete foundation with full walk‑out basement
