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    Harrison Landmark Restaurant and Tavern Title is generated by Realmo AI

    56 Main Street, Harrison, ME 04040

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    Claim this Listing
    For Sale
    $699,000

    COMMERCIAL - Harrison, ME

    Property size:
    4,485 SF
    Lot size:
    2.58 Acres
    Price / SF:
    $155/SF
    Added:
    May 19, 2026
    Days on Market:
    11
    Last Refresh:
    May 29 at 7:06 pm

    Property Features for 56 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Res & Lim. comm
    Rooms
    Basement
    Parking features
    Offsite
    Interior features
    Storage
    Basement
    Full, Walk-Out Access
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    4,485 SF
    Lot size
    2.58 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6650

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Forced Air, Pellet Stove, Zoned, Propane (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Flooring type
    Tile, Wood
    Building materials
    Wood Frame, Wood Siding
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Jaime Rolfe

    Listing agent Jaime Rolfe

    Listing office Oberg Insurance & Real Estate Agency, Inc. 132 Main Street, Bridgton, ME

    Listing date May 19, 2026

    MLS# 1660395

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Established Turnkey Restaurant: 125 seats, full bar with live music, and a loyal customer base.
    • Prime Location: Between Long Lake and Crystal Lake in Harrison Village, with direct trail access.
    • Four‑Season Destination: Attracts lake boaters in summer and snowmobilers in winter.
    • Extensively Renovated: Updated in 1996 with a metal roof, hardwood and tile floors, and a solid foundation.
    • Commercial‑Grade Infrastructure: Features three‑phase power, zoned forced‑air heating with pellet stove, central air conditioning, public water, and private sewer.
    • Full Wheelchair Accessibility: Includes accessible approach with ramp.

    Overview

    Located at 56 Main Street, this landmark property dating back to the 1920s is situated between Long Lake and Crystal Lake, in the heart of Harrison Village. The property features 125 seats, a full bar with live music, and a fireplace lounge. It has a strong customer base, supported by over 235 reviews and a 4.3-star rating. Known as The Olde Mill Tavern, it attracts lake boaters in the summer and snowmobilers in the winter, with direct trail access behind the building and town boat docks across the street. The wood-frame building, extensively renovated in 1996, includes a metal roof, hardwood and tile floors, and a granite, block, and poured concrete foundation with a full walk-out basement. The property is equipped with commercial-grade infrastructure, including three-phase power, zoned forced-air heating with pellet stove, central air conditioning, public water, and private sewer. It also offers full wheelchair accessibility. The location and community make it suitable for continued restaurant operations. The property is situated on a 2.58-acre lot. The building size is 4485 square feet. The property is zoned for residential and limited commercial use.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $80.7k $18.00
    − Vacancy −$13.7k −$3.06
    EGI $67.0k $14.94
    − OpEx −$16.8k −$3.74
    NOI $50.3k $11.21
    4,485 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $717.9K
    $628.2K – $837.6K (±1% cap)
    NOI $50,254 @ 7.0% cap · market cap 7.19%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.23M
    $1.08M – $1.44M (±1% cap)
    NOI $86,289 @ 7.0% cap · market cap 12.34%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Olde Mill Tavern — 56 Main St, Harrison, ME 04040
    • The Barking Chicken - Craft Bar and Gallery — 46 Main St, Harrison, ME 04040

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Cumberland
    State
    Maine
    Longitude
    -70.678968
    Latitude
    44.109846

    FAQs

    What type of property is this?
    Bar & Pub - Turnkey restaurant and tavern in the heart of Harrison Village.
    Where is this bar & pub located?
    The property is located at 56 Main Street Harrison, ME.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Established Turnkey Restaurant: 125 seats, full bar with live music, and a loyal customer base.; Prime Location: Between Long Lake and Crystal Lake in Harrison Village, with direct trail access.; Four‑Season Destination: Attracts lake boaters in summer and snowmobilers in winter.
    (207) 228-4903
    We can help!
    Listing Contact
    Jaime Rolfe
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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