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31992541
32200637

16 School Street, Sanford, ME 04073 For Sale

MR
ME BA923361
$699,900
84 days on market
Updated 66 days ago

PRICE REDUCED! Time-Sensitive, Turnkey Restaurant, 150 seats

Details
Property Type Retail
Sub Type Restaurant
Square Footage 6,921
Tenancy Vacant
Year Built 1973
Year Renovated 2019
Acreage 0.100
Zoning Urban Business
Investment Type Owner/User
Ground Lease No
Sale Condition Distressed

6,921 SF | Prime Downtown Location in Up-and-Coming Sanford

Marketing description

Immediate Opportunity | Open to Offers!! | Motivated Seller

Price reduced by $100 K!!

Turnkey restaurant opportunity in the heart of Downtown Sanford. This fully equipped, 150-seat establishment spans three levels and offers an exceptional layout designed for high-volume service, efficiency, and multiple revenue streams.

The first floor features a spacious main dining room with 16 tables and a fully equipped commercial kitchen. The second level showcases a 22-seat horseshoe sports bar with additional seating, 6 TVs, and an expanded, functional layout—ideal for events, nightlife, or overflow dining. The finished basement adds significant operational value with two walk-in coolers, a walk-in freezer, dedicated prep space, and ample storage.

Extensively renovated in 2019, the property offers updated finishes, improved functionality, and a modernized interior throughout. With natural gas, public water and sewer, sprinkler system, and strong mechanicals already in place, this is a true plug-and-play opportunity for an owner-user or investor.

Positioned in Sanford’s Urban Business zone, this property benefits from a prime downtown location in a rapidly growing and revitalizing area. Surrounded by local businesses, increasing foot traffic, and ongoing development, the upside potential here is significant.

Whether you’re looking to launch a new concept, expand your portfolio, or capitalize on a time-sensitive opportunity, this property offers scale, infrastructure, and location—all in one.

Investment highlights

Turnkey Restaurant Opportunity – Fully equipped, high-capacity (150 seats) layout ready for immediate operation

Recently Renovated (2019) – Updated interior, expanded bar, and improved functionality across all three levels

Multiple Revenue Streams – Dining room, sports bar, and event-capable layout for diversified income

Prime Downtown Location – Positioned in Sanford’s Urban Business district with strong visibility and accessibility

Major Housing Growth Nearby – New 86-unit market-rate apartment development underway nearby, increasing local population and demand for dining and nightlife

Ongoing Revitalization Efforts – Downtown Sanford redevelopment projects and investment initiatives are driving long-term economic growth and foot traffic

Significant Public Investment – Over $5M+ in EPA Brownfields funding supporting site cleanup and redevelopment, unlocking additional commercial and residential opportunities

Growing Workforce & Housing Demand – Local and regional initiatives focused on expanding housing supply and supporting workforce stability, fueling long-term business demand

Flexible Use Potential – Ideal for restaurant, bar, entertainment venue, or repositioning into a new concept

Time-Sensitive Opportunity – Positioned for immediate acquisition in a rapidly evolving market

Listing Contacts

MR
ME BA923361

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Additional Information

Name
Melissa Rioux
License
BA923361
Brokerage
eXp Realty
Title
Assoc. Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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