For Sale
$1,895,000

3 Grand AveScarborough, ME 04074

Beachfront Restaurant & Apartments, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional mixed-use property at 3 East Grand Avenue in Scarborough, Maine, presents a unique owner-user opportunity. Situated on a 1.3-acre lot directly across from Pine Point Beach, this two-story, 7,960 square foot building boasts a vibrant mix of commercial and residential space. The ground floor currently houses three thriving retail businesses: a pizza takeout, a 130-seat restaurant, and a gift shop, all operating at 100% occupancy. The second floor provides six dormitory-style bedrooms, currently used for staff housing, but easily convertible back into two three-bedroom apartments suitable for short-term or long-term rentals, or private use. Built in 1940 and extensively renovated in 2017, the property features 30 parking spaces and is zoned Town Village Center 4. The asking price is $1,895,000, and the existing lease has one year remaining. Fixtures, furniture, and equipment are negotiable. This investment offers significant potential for both immediate income and long-term appreciation in a highly desirable beachfront location. The property's strong performance and prime location make it an ideal investment for an owner-operator seeking a blend of commercial and residential income streams.

Highlights

  • Excellent owner-user opportunity in Scarborough, Maine.
  • Prime beachfront location directly across from Pine Point Beach.
  • Fixtures, furniture, and equipment (FF&E) are negotiable.

Property Details for 3 Grand Ave

Property type
Retail properties, Restaurants
Square Feet
7,960 SF
Year Built/Renovated
1940/2017
Stories
2
Lot Size (sq. ft)
56,628 SF

Location Insight

City
Scarborough
County
Cumberland
State
Maine
Latitude
43.5411845
Longitude
-70.3452078
3 Grand Ave, Scarborough, Maine

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3 Grand Ave
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