422 Main St
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422 Main St
3,443 SF Vacant Retail Building Ogunquit, ME 03907 $3,200,000 ($929/SF) 6.88% Cap Rate
Investment Highlights
- Heavy foot and car traffic
- Thriving short-term rental and restaurant town. "Ogunquit, a beautiful place by the sea". Top-20 Beach in the U.S.
Executive Summary
Incredible opportunity to own not one but 2 thriving businesses at one location! The Omelette Factory is a landmark breakfast restaurant with a 41-year history in Ogunquit. Repeat customers return from all over the country year after year. Current owners have doubled the size of the restaurant, updated the interior and developed a thriving short term vacation house rental business in the newly renovated attached home. Close to the main attractions in town, guests enjoy walking to the beach or shopping and dining along Main Street in town. Don't miss this opportunity to see these turnkey businesses!
Data Room Click Here to Access
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,443 SF
Building Class
B
Year Built/Renovated
1960/2022
Price
$3,200,000
Price Per SF
$929
Cap Rate
6.88%
NOI
$220,000
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
8’
Building FAR
0.23
Land Acres
0.34 AC
Zoning
GBD2 - Commercial & Residential
Parking
21 Spaces (6.1 Spaces per 1,000 SF Leased)
Frontage
142 FT on Main St
Amenities
- Restaurant
PROPERTY TAXES
| Parcel Number | OGUN-000008-000000-000024 | Total Assessment | $1,072,100 (2023) |
| Land Assessment | $619,100 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $453,000 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
OGUN-000008-000000-000024
Land Assessment
$619,100 (2023)
Improvements Assessment
$453,000 (2023)
Total Assessment
$1,072,100 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
-
Michael McCallum - McCallum Rentals LLC
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422 Main St
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