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    FOR SALE
    Turn key restaurants

    424 Walnut Hill Rd, North Yarmouth, ME 04097

    3,860 SF 0.52 ac lot Built 1950
    Entity Owned 6-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US42-0193916
    Property summary
    AI-generated overview

    This exceptional Class A mixed-use property, located at 424 Walnut Hill Road in North Yarmouth, Maine (04097), presents a compelling investment opportunity. The property encompasses two buildings on a 0.52-acre lot (APN: Map 007, Lot 029) and totals 6,832 square feet. The main building, a 4,624 square foot, two-story structure, houses a thriving 2,999 square foot restaurant on the ground floor and two apartments on the upper level. A second building, a barn and event center, offers 1,262 square feet of finished space on the first floor, plus an additional 946 square feet of unfinished attic space. The property boasts a strong tenancy history and is currently fully leased. Extensive renovations have been completed within the last three years (2021, 2022, and 2023), including comprehensive updates to the barn, restaurant, and both apartments. Further enhancing the property's value, a new shingle roof was installed on the main building in December 2023. This turnkey investment offers a blend of established commercial and residential income streams, situated in the desirable North Yarmouth market. The property's combination of updated facilities, strong rental income, and prime location makes it an attractive prospect for discerning investors seeking a high-return, low-maintenance asset. The asking price is $1,450,000.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1950
    Construction FRAME
    Total area 3,860 SF
    Lot 0.52 ac (22,651 SF)
    APN NYAR M:007 L:029
    UPID US42-0193916
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Trudy Bird's Ølbar Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Salt&zest LLC · 6 yrs held
    Salt&zest LLC
    since 2019
    7 recorded transactions
    2026
    2024
    2023
    2022
    2020
    2019
    2017
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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