40 Cottage Street, Bar Harbor, ME 04609

$2,095,000
Property Type: Commercial Square Footage: 4,500 Lot Size (sq. ft.): 3,049 Status: Closed
Current Price: $2,095,000 List Date: 2/13/2022 Last Modified: 1/10/2025

Description

First time on the market in over 30 years. This legendary Bar Harbor restaurant/tavern/entertainment locale is where many locals go to meet up, dine and socialize. ''The Whale,'' as locals fondly call it, has been locally owned and operated since the doors opened in 1988. A lively, friendly blend of visitors and locals, it is kid friendly by day and a hot spot for entertainment and fun at night. The business operations have been finely honed over the past 3 decades by the current owners. The building was completely torn down and rebuilt in 2008. Solar panels on the roof help reduce the electrical bills while heat pump/AC units keep the customers comfortable year-round. Property has been extremely well maintained over the years. A separate in-town, employee housing property is available for purchase with the restaurant for the combined price of $2.95M. Sellers to provide complete and thorough training to buyer(s). This property is the quintessential definition of a ''turn-key'' business with very strong, supportive underlying financials. Come stake your claim to being the next owner of this iconic local business and begin making plans to put your mark on this popular institution for the years to come !

Supplements: ********

More Information MLS# 1519627

Location Information

Book: 3098 Leased Land: No Page: 32 Map: 104 Lot: 365 Zoning Overlay: No Association Y/N: No Street #: 40 Street Name: Cottage Street Type: Street County: Hancock Town: Bar Harbor State/Province: ME Zip Code: 04609 Zip +4: 1833 Zoning: DT Village I Full Tax Amount $: 6209 Tax Year: 2021 Geo Lat: 44.389333 Geo Lon: -68.206259

Property Information

Primary Use: General Commercial Surveyed: No Deed/Conveyance Type Offered: Quit Claim w/Covenant Deed: All Lot Size Acres +/-: 0.07 Year Built: 2009 SqFt Finished Total: 4500

Location

Business District: 1 Downtown: 1 Near Shopping: 1

Property Uses

Bar/Tavern/Lounge: 1 Commercial: 1 Restaurant: 1 Retail: 1

Construction

Wood Frame: 1

Basement

Crawl Space: 1 Full: 1 Sump Pump: 1

Foundation Materials

Poured Concrete: 1

Exterior

Wood Siding: 1

Roof

Pitched: 1

Heat System

Heat Pump: 1

Heat Fuel

Electric: 1 Oil: 1

Cooling

Heat Pump: 1

Floors

Wood: 1

Parking

Other Parking: 1 On Street: 1

Electric

Circuit Breakers: 1 Photovoltaics Seller Owned: 1

Gas

Bottled: 1

Sewer

Public Sewer: 1

Water

Public: 1

Sold Info

Appraiser Email Address: john@jpowellappraisals.com

Sold Terms Other

Arms Length: 1

Contract Information

Status: Closed Original List Price: 2795000 Sold Price: $2,095,000 Current Price: $2,095,000

Status Change Info

Pending Date: 2022-12-22 Closed Date: 2023-03-20 Closed Price: 2095000

Property Features

Location: Business District; Downtown; Near Shopping Construction: Wood Frame Property Uses: Bar/Tavern/Lounge; Commercial; Restaurant; Retail Basement: Crawl Space; Full; Sump Pump Foundation Materials: Poured Concrete Exterior: Wood Siding Roof: Pitched Heat System: Heat Pump Heat Fuel: Oil Cooling: Heat Pump Floors: Wood Parking: On Street; Other Parking Electric: Circuit Breakers; Photovoltaics Seller Owned Gas: Bottled Sewer: Public Sewer Water: Public Sold Terms Other: Arms Length
Listing Office: Eden Realty
IDX
Last Updated: January - 10 - 2025
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