Retail Space - For Sale
60 Ocean Street South Portland, ME 04106
Details & Description
Price: $2,295,000
  • Property Type Retail for Sale : Other Retail
  • Lot Size Acres 0.110
  • Building Sq Ft 7,224
  • Building Price per Sq Ft $317.69
  • Land Sq Ft 4,791
  • Land Price per Sq Ft $479.02
Attention investors and restaurant/hospitality operators! Newly built property (2019) located on a corner lot in the popular Knightville neighborhood with frontage on both Ocean and C Streets and 8 off-street parking spaces. This 7,224+/- SF turn-key property offers street level restaurant space and second floor hospitality area that can be used as a boutique hotel. The restaurant is currently configured at 75 seats and will nicely accommodate a band for live music. With a pure restaurant focus, seating could be substantially expanded. The restaurant space includes basement storage/prep area, full kitchen, bar, dining room, and stage area. There is also patio space for outdoor dining in warmer months. The second level features a 6-unit boutique hotel as approved by the city of South Portland with a lobby area, a one-bedroom suite with fully-equipped kitchen and private balcony, plus five additional ensuite bedrooms with large windows and abundant natural light. The second floor has a large community balcony and can be accessed via stairs or elevator/chair lift. The building has been previously approved to expand an additional 3 stories to make it a 5-story building. Furnishings and restaurant equipment are included in the sale.
Property Highlights
Additional Photos
Listing Agents
Kirk Butterfield

O: 207-879-9800
M: 207-205-4007
kbutterfield@kw.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

60 Ocean Street

South Portland, ME 04106

Listing ID: 267155
$2,295,000
For Sale
  • Property Type Retail for Sale : Other Retail
  • Lot Size Acres 0.110
  • Building Sq Ft 7,224
  • Building Price per Sq Ft $317.69
  • Land Sq Ft 4,791
  • Land Price per Sq Ft $479.02
  • 60 Ocean Street South Portland, ME 04106 | for Sale | Photo 1
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Property Highlights
 Gorgeous Turn-key restaurant
 Ability to expand restaurant capacity
 6 unit boutique hotel room to scale up
 All furnishingsequipment included
Description

Attention investors and restaurant/hospitality operators! Newly built property (2019) located on a corner lot in the popular Knightville neighborhood with frontage on both Ocean and C Streets and 8 off-street parking spaces. This 7,224+/- SF turn-key property offers street level restaurant space and second floor hospitality area that can be used as a boutique hotel. The restaurant is currently configured at 75 seats and will nicely accommodate a band for live music. With a pure restaurant focus, seating could be substantially expanded. The restaurant space includes basement storage/prep area, full kitchen, bar, dining room, and stage area. There is also patio space for outdoor dining in warmer months. The second level features a 6-unit boutique hotel as approved by the city of South Portland with a lobby area, a one-bedroom suite with fully-equipped kitchen and private balcony, plus five additional ensuite bedrooms with large windows and abundant natural light. The second floor has a large community balcony and can be accessed via stairs or elevator/chair lift. The building has been previously approved to expand an additional 3 stories to make it a 5-story building. Furnishings and restaurant equipment are included in the sale.

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South Portland Area Market Trends

Listing Demographics for 60 Ocean Street South Portland, ME 04106

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population14,64376,492124,820
Population Median Age414141
Population by Age0-9 Yrs1352 (9%)6069 (7%)10764 (8%)
10-19 Yrs1006 (6%)7038 (9%)12387 (9%)
20-29 Yrs2647 (18%)14136 (18%)19942 (15%)
30-39 Yrs2465 (16%)12206 (15%)17638 (14%)
40-49 Yrs1748 (11%)9403 (12%)15271 (12%)
50-59 Yrs1938 (13%)10531 (13%)18239 (14%)
60-69 Yrs1945 (13%)9491 (12%)15975 (12%)
70+ Yrs1542 (10%)7618 (9%)14604 (11%)
Median HH Income$62,839$62,463$67,118
Total Household Income< 24K1455 (20%)7294 (20%)10424 (18%)
25-49K1560 (21%)7481 (20%)11151 (19%)
50-74K1142 (15%)6178 (17%)9532 (16%)
75-99K1021 (14%)4765 (13%)7859 (13%)
100-199K1593 (22%)7454 (20%)12740 (22%)
200K+415 (5%)2588 (7%)4773 (8%)
Highest Education LevelNo Diploma58335535296
Diploma or GED1905922715451
Some College2059990415223
Assoc. Degree67741777052
Bachelors Degree37571857829301
Higher Degree23421227920907
Total Housing Units8,08640,64466,364
--Owner-Occupied3,26616,76730,810
--Renter-Occupied3,92018,99325,671
Owner-Occupied Values< 100K79313691
100-199K45922124115
200-299K135352109798
300-399K79436166733
400-499K29125304129
500K+29028855344
Total Working Age Population12,63666,338106,942
In Work Force9,03947,07774,696
Not In Work Force3,59719,26032,246
Workforce Employed8,64545,21872,073
Workforce Unemployed3401,7112,383
Civlian Workforce8,98546,92974,455
Military Workforce54149240
Total Households7,18635,76056,480
Family Households3,09915,88927,835
Non-Family Households4,08719,87128,645
Married Couple2,19511,90521,683
Other Family9043,9846,152
Married w/Child6714,1507,748
Single Male w/Child126579951
Single Female w/Child4311,6102,597

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Maine1,274,923+41,328,361+11,335,26001,341,046
Cumberland County265,612+6281,674+5294,711+2301,376
York County186,742+6197,131+6208,062+5217,689

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

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No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views
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Closest Commercial Airports
Airport Distance (mi)
Portland International Jetport (PWM) 3
Manchester-Boston Regional Airport (MHT) 77
General Edward Lawrence Logan International Airport (BOS) 96
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