NO LISTING PRICE. SEE DESCRIPTION BELOW. The above stated price is the TAX ASSESSED VALUE and a place holder only. The foreclosing lender has the right to bid at the auction. - Real Estate Foreclosure Auction 25-9 - 6,884+/- SF Fully Equipped Restaurant - Former Muddy Rudder Restaurant - 1335 U.S. Route 1, Yarmouth, Maine - Auction Date: Wednesday, February 12, 2025 at 11AM On Premises - Preview Date: Wednesday, January 29, 2025 from 10AM-12PM - REAL ESTATE SUMMARY: Land consists of a 1.02+/- acre parcel with 200+/- ft. on US Rt. 1 and 380+/- ft. of frontage on the Cousins River. There is 6,000+/-SF of paved parking with a capacity for (18+/-) cars with extra deeded parking. Improving the site is a 6,684+/-SF wood framed restaurant built in 1973. The restaurant is designed with 4 separate open concept water views dining areas and it is currently licensed to seat 225 guests. The main entrance leads to a foyer and hostess station. On the left is a 600+/-SF dining area with 2-four and 2-six top tables that can be closed for private seating. Behind the hostess station is an open seating lounge with 5-lounge chairs and 2-couches. Directly right of the lounge is a 49+/- ft horseshoe bar that is surrounded by 14 stools and 6-deuce high tops. The bar is serviced by a back room containing ice maker and storage. The men's and ladies restrooms are to the right of the hostess station. Off the lounge area and on the waterside, is a sunken dining area 800+/SF with 14-four top and 2- six top tables. To the right side of the bar area there is a 660+/-SF open dining area that has 9-four tops, 2-six tops and 1-eight top tables. This room can be closed for private dining and is serviced by additional men's and ladies restrooms. The waterfront patio is designed with 6-four top patio dining sets. The riverfront can be access by a wooden pier with 35+/- ft. aluminum ramp that leads to an 80+/- ft 4-section aluminum dock. The Rt.1 side of the building has a 920+/-SF fully equipped commercial kitchen that has a small office and and access to the full basement. There is also a gift shop area and a take-out area. REAL ESTATE PARCEL • ASSESSOR'S REFERENCE - Tax Map 9, Lot 15 • SIZE - 1.02+/- Acres • TOPOGRAPHY - Level lot on grade with road • PARKING - 6,000+/-[ SF. Paved with 18+/- spaces - Extra Deeded Parking • ZONING - General Development • FLOOD ZONE - Zone AE (EL 10) • VISIBILITY - Excellent • ROAD FRONTAGE - 200+/- ft. on Rt. 1 • RIVER FRONTAGE - 380+/- on the Cousins River • SIGNAGE - Bill Board AMENITIES • STRUCTURE - Commercial, restaurant • GROSS BUILDING AREA - 6,884+/- SF • STORIES - 1 • YEAR BUILT - 1973 • ROOF - Asphalt shingle, Gambrel style • STRUCTURAL FRAME - Wood • BATHROOMS - (2) men's and (2) ladies • FLOORS - Carpet and tile • EXTERIOR WALLS - Wood shingled • INTERIOR WALLS - Painted drywall, drywall in kitchen • CEILINGS - Painted drywall • KITCHEN - Commercial with cook line, food prep • STORAGE - Dry storage room in main building and basement • ELECTRICAL - 400 AMP with circuit breakers • HVAC - Central HVAC, natural DIRECTIONS: Heading north on Rt. 1 from exit 17 off 295 in Yarmouth, follow Rt. 1 .7miles to property on the right. Buyer Broker Participation Available. Contact Auctioneer to Qualify. Terms: A $25,000 deposit (nonrefundable as to highest bidder) in CASH or CERTIFIED U.S. FUNDS, made payable to Keenan Auction Company, Inc. (deposited with the Auctioneer as a qualification to bid), increased to 10% of the purchase price within 5 business days of the sale with balance due and payable within 30 days from date of auction. The property will be sold by public auction subject to all outstanding municipal assessments. Conveyance of the property will be by release deed. All other terms will be announced at the public sale. For additional terms and a Property Information Package contact the auctioneers office and request by auction #25-9. Our 53rd Year and 8,721st Auction.
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