216 Mile Rd Wells, ME 04090-4129
This exceptional waterfront restaurant in Wells, Maine, presents a rare opportunity. The 4,714 square foot building, constructed in 1950 and extensively renovated in 2018/2023, sits on a one-acre lot with 62 parking spaces. It includes a full commercial kitchen, a large bar and seating area, two dining rooms seating approximately 200 patrons, and a small second-floor office. An additional 700 square foot outbuilding offers ample storage and cooler space. The property boasts a prime location on Mile Road, offering high visibility and stunning 360-degree water views. This established business includes all fixtures, furniture, and equipment (FF&E), significant goodwill, an extensive memorabilia collection, a loyalty program with 51,000 members, a Facebook page with 21,000 followers, and a website averaging 1,200 daily hits. The permitted zoning is RP. The property's APN is Map 122, Block 41, and is owned by Noetic Enterprises Inc. This is an owner/user investment opportunity, ideal for continuing the legacy of a successful Maine institution or establishing a new culinary venture in a highly desirable location. The property is located at 216 Mile Rd, Wells, ME 04090.
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Billy's Chowder House Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
BB · Wells, MEWells. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.