ESPO S TRATTORIA. a Maine tradition for 46 years 1335 CONGRESS STREET, PORTLAND, ME FOR SALE SALE PRICE: $1,200,000 $899,000

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1 ESPO S TRATTORIA a Maine tradition for 46 years 1335 CONGRESS STREET, PORTLAND, ME FOR SALE JOHN DOYON, CCIM direct direct fax john@malonecb.com 5,550± SF restaurant with second floor apartment now available Family owned for over 45 years Excellent location in a high traffic area, dense population and a lighted intersection On-site parking, street parking and over-flow parking Area businesses include Bank of America, Inspire Dental, Anania s, Advanced Auto Parts, CVS, Shaw s, Italian Heritage Center, Clarion Hotel, Bayside Employee Health Center, Norway Savings Bank and the Thompson s Point Event Center, to name a few SALE PRICE: $1,200,000 $899,000 MALONE COMMERCIAL BROKERS 5 MOULTON ST, PORTLAND, ME MALONECB.COM

2 ESPO S TRATTORIO BUSINESS INFORMATION PROPERTY SUMMARY Espo s Trattoria is a third generation, locally owned family business located on Congress Street in the same area as the Thompson Point redevelopment project, Double Tree Hotel, West Gate Shopping Center anchored by Shaw s. It adjoins a heavily populated section of the City of Portland which includes housing from Congress Street to Brighton Avenue, up to Deering Highlands and beyond to the Deering area. On nights when concerts are held at Thompson Point, the restaurant often has more diners than it can accommodate. The property features a modern second floor apartment where the first generation Esposito s raised their family and trained them in the business. In turn, the second generation trained the third generation with one of the third generation daughters currently managing the restaurant and still serving old family recipes passed down from the 1900s. The menu is classic Italian with ample servings at reasonable prices. The restaurant location off peninsula, where it has always been located, now represents a popular trend to bring small cafes back to the neighborhoods for a more intimate dining experience with guests and servers you may likely know. The restaurant also benefits from being located on one of Portland s busiest streets which leads to the Portland International Jetport and the Maine Mall. Espo s is expanding their private catering with 2017 revenue up by 20%. The owner does not engage in any marketing campaigns. OWNER: 1335 Congress Street, LLC (real estate) Daeson, LLC (operating company) BUSINESS NAME: Espo s Trattoria ADDRESS: 1335 Congress Street, Portland, ME DEED: Cumberland County Book Page 307 ASSESSOR: Map U187 Lot A-1 LAND: ± AC BUILDING SIZE: 5,550± SF ZONING: B-1 MALONE COMMERCIAL BROKERS 5 MOULTON ST, PORTLAND, ME MALONECB.COM

3 ESPO S TRATTORIA PROPERTY DATA PROPERTY SUMMARY CONSTRUCTION: 1910, wood-frame ROOF: New asphalt shingles in 2017 EXTERIOR: New vinyl siding and a brick facade FOUNDATION: Full CEILING HEIGHT: 8-10 with the original tin ceiling in the dining room WINDOWS: Double pane FLOORS: Oak flooring in dining room, new tile (2017) in kitchen LIGHTS: Suspended from ceiling HEAT: Natural gas-fired baseboard heat, Bellerus boiler estimated at 15± yrs old AIR CONDITIONING: Two mini-splits - natural gas NATURAL GAS: Natural gas for heating and cooking PROPANE: Two propane tanks available for use HOT WATER: 80± gallon tank, gas-fired WATER/SEWER: Municipal ELECTRICAL: 400 amps, single phase SPRINKLER SYSTEM: No SECURITY SYSTEM: Camera system in place PARKING: 10± spaces, on-street parking and parking in the commercial lot across Caleb Street by an informal long-term arrangement (ask Broker) ACCESS: On the corner of Congress and Caleb Streets at a lighted intersection RESTAURANT: First floor: seating for 48± in the dining room, 6± at the bar and 20± in the outside patio and two bathrooms Second floor: two-room office, storage room for dry goods and linens and dough prep room APARTMENT: Two bedrooms, two bathrooms, modern fixtures, wood and tile floors MALONE COMMERCIAL BROKERS 5 MOULTON ST, PORTLAND, ME MALONECB.COM

4 ESPO S TRATTORIA FINANCIALS PROPERTY SUMMARY RENTAL INCOME: Apartment leased through 3/15/19 at $1,700/month, all inclusive ASSESSMENT: Land $ 145,000 Building $ 250,200 Total $ 395,200 (ME assessments do not reflect market value) Adjoining lot $ 66,550 PROPERTY TAXES: $10, (2018/19) POINT OF SALE SYSTEM: Digital Dining FF&E: All to be conveyed including two walk-in coolers, eight burner stove (new in 2017), pizza oven (new in 2016), steam table, fry-o-lator, plus bar and dining FF&E SALE PRICE: $899,000 For more information about this family business: RANGELEY JOHN DOYON, CCIM Broker direct cell john@malonecb.com This document has been prepared by Malone Commercial Brokers for advertising and general information only. Malone Commercial Brokers makes no guarantees, representations or warranties of any kind, expressed or implied, regarding, but not limited to, warranties of content, accuracy, and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Malone Commercial Brokers excludes unequivocally all informed or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages there from. All data is subject to change of price, error, omissions, other conditions or withdrawal without notice. Malone Commercial Brokers is acting as the Seller s/lessor s agent in the marketing of this property.

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