Bought with Better Homes & Gardens Real Estate/The Masiello Group
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Key Details
Sold Price $1,380,000
Property Type Commercial Sale
Sub Type General Commercial
Listing Status Sold
Square Footage 5,554 sqft
MLS Listing ID 1518463
Sold Date 05/13/22
HOA Y/N No
Originating Board Maine Listings
Year Built 1941
Annual Tax Amount $7,263
Tax Year 2021
Lot Size 0.370 Acres
Acres 0.37
Property Description
Riverside Cafe is rated the #1 restaurant in the Ellsworth area on Tripadvisor and is certainly a local favorite gathering spot. Very successful operation with kitchen, dining and bar area as well as multiple rentals on the property that help offset costs. Sitting at the Gateway to Downesat Maine and the Acadia Region the potential is unlimited and you even have your own parking lot in the back. Currently only operating for breakfast and lunch with excellent numbers so expanding the times and days would make an even stronger investment for an owner operator or investor, the current rents alone generate a 5-7% ROI and then you get a very successful restaurant business to generate even more on top of that. The owner is retiring after a successful 16 year run.
Location
State ME
County Hancock
Zoning Commercial
Direction Center of Main Street in Ellsworth with parking in the back off Franklin Street
Rooms
Basement Full, Unfinished
Interior
Heating Radiator, Hot Water, Heat Pump
Cooling Heat Pump
Flooring Wood
Equipment Cable
Exterior
Garage 11 - 20 Spaces, On Site, Paved
View Y/N No
Roof Type Composition,Fiberglass,Membrane,Shingle
Parking Type 11 - 20 Spaces, On Site, Paved
Building
Lot Description Downtown, Business District, Near Shopping
Story 1
Foundation Stone, Granite, Pillar/Post/Pier
Sewer Public Sewer
Water Public
Structure Type Wood Siding,Brick,Masonry,Wood Frame
Others
Energy Description Propane, Electric
Financing Conventional
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Paul Rondeau
Broker Associate | License ID: BA923327
Broker Associate License ID: BA923327