Restaurant and Banquet Facility in Vacation Hot Spot

Old Orchard Beach, ME Restaurant for sale: An excellent redevelopment opportunity, or turnkey restaurant and banquest facility with residential income.
Old Orchard Beach, ME Restaurant for sale: An excellent redevelopment opportunity, or turnkey restaurant and banquest facility with residential income.
Old Orchard Beach, ME Restaurant for sale: An excellent redevelopment opportunity, or turnkey restaurant and banquest facility with residential income.
Old Orchard Beach, ME Restaurant for sale: An excellent redevelopment opportunity, or turnkey restaurant and banquest facility with residential income.
Old Orchard Beach, ME Restaurant for sale: An excellent redevelopment opportunity, or turnkey restaurant and banquest facility with residential income.CLICK TO VIEW ALL PHOTOS

Restaurant and Banquet Facility in Vacation Hot Spot

As a successful operator of Duffy's Tavern in Kennebunk, owner, David Cluff purchased this property in 2015.​ After a $100,000 renovation and updating, the new, second Duffy's was launched, and has enjoyed an excellent reputation, bringing in repeat business consistently.​ The 200 seat restaurant is supplemented by a 250 seat banquet hall where weddings and other events take place regularly.​ The property, on 3.7 acres, is comprised of the restaurant, a three bedroom home, a two family apartment building, and two seasonal, two bedroom cottages for work-force housing.​ The extra large restaurant could easily be repurposed for other hospitality uses, including a brew pub, hotel, or elder care facility.​



Location

Country:

USA

State or Province:

ME

City:

Old Orchard Beach

Location Zip or Postal Code:

4064

Listing Information

Service Type:

Sit-Down Table Service

Title of Listing:

Restaurant and Banquet Facility in Vacation Hot Spot

Year Established:

2016

Number of Locations:

1

Number of Seats:

Over 150

Size:

11749, Square Feet

Patio:

Yes

Number of Employees:

11-50

Hours of Operation:

7 days 11-12

Growth or Expansion Opportunities:

Prime location and size for a micro-brewery/restaurant; room residential expansion in back of lot

Reason for Selling:

Too much for current owner who has another restaurant to operate

Owner Operated or Absentee Owner or Flexible:

Flexible

Financial Details

Asking Price:

$2,300,000

Gross Revenue:

$1,100,000

Gross Revenue Range:

$1,000,000+

EBITDA Range:

$100,000-$300,000

SDE Range:

$100,000-$300,000

FF&E Value (Furniture Fixtures and Equipment):

$120,000

Inventory Estimated Value:

$120,000

Inventory Value included in price?:

Yes

Vendor Financing Available:

Yes

Asset or Share Sale:

Asset

Real Estate Owned or Leased:

Real Estate Owned

Real Estate Value Included?:

Yes

Contact Listing Owner