287 Water Street, Augusta, ME 04330 For Sale

Otto's on the River | Established Riverfront Restaurant & Bar | Augusta, Maine

Opportunities to acquire an established restaurant with tax-return-supported six-figure annual net profitability, a newly executed long-term lease, and a prime downtown riverfront location rarely become available. Operating since 2017, Otto's on the River offers the opportunity to acquire one of Augusta's best-known full-service restaurants and bars in the heart of the city's revitalizing riverfront district.

The sale includes the established business, trade name, goodwill, furniture, fixtures, equipment, and an assignable leasehold interest consisting of approximately 2,909± square feet of interior space plus an additional 400± square foot deck. A newly executed five-year lease with a five-year renewal option provides long-term operational stability, while the assignable leasehold interest - subject to landlord approval, which may not be unreasonably withheld - offers flexibility for the next owner. Base rent follows a predetermined schedule throughout the initial term with no separate tax or operating cost adjustments under the lease.

Backed by tax-return-supported six-figure annual net profitability, an established customer base, a strong online reputation, and proven operating systems, the next owner can focus on expanding the business rather than building one from the ground up. The opportunity to add river-facing outdoor dining could further establish Otto's as one of Central Maine's leading dining destinations.

Business Highlights

• • Established full-service restaurant and bar operating since 2017
  • Prime Water Street location in downtown Augusta's revitalizing riverfront district
  • Approximately 2,909± SF of interior space plus an additional 400± SF deck
  • Newly executed 5-year assignable lease with a 5-year renewal option
  • Predictable rent schedule with no separate tax or operating cost adjustments under the current lease
  • Tax-return-supported six-figure annual net profitability
  • Established customer base and strong online reputation
  • Turnkey operation including furniture, fixtures, equipment, goodwill, and trade name
  • Opportunity to add river-facing outdoor dining
  • Business sale only; real estate is not included

Opening a comparable restaurant today requires securing a commercial location, negotiating a long-term lease, completing a commercial build-out, purchasing equipment, obtaining licenses, hiring and training staff, and building a customer base. Otto's on the River provides that foundation on day one, allowing the next owner to capitalize on an established operation while writing the next chapter of one of Augusta's recognized dining destinations.

Detailed financial information and additional business records are available to qualified buyers upon execution of a Non-Disclosure Agreement.