16 School St.

Description:

The above stated price is the tax assessed value and a place holder only. The lender reserves the right to bid at the auction. - Real Estate Foreclosure Auction 26-45 - Formerly 150-Seat - 6,900+/-SF Restaurant16 School Street, Sanford, Maine - Auction: Wednesday, May 13, 2026 at 11AM Equipment to be sold together with the real estate as an entirety. - Real Estate: Consists of a 150-seat 2-story restaurant with outdoor seating. The 6,900+/- SF facility was remodeled in 2019 and the first floor boasts the main dining room and a fully equipped commercial kitchen. The second floor has a horseshoe bar with (22) stools and seating for 75+ patrons. The finished basement has walk-in coolers, freezers, a kitchen prep area and storage. Reference Tax Map K30, Lot 43. - Preview: (Pending Access):Tuesday, April 28, 2026, from 9-11AM - Please contact the office prior to attending to confirm we have access on this date. - Buyer Broker Participation Available. Contact Auctioneer to Qualify. SITE • LOCATION: 16 School St • LOT SIZE: .1+/- Acres • FRONTAGE: 52+/- ft. of frontage on School St. and 80+/- ft. of frontage on Bodwell St. • ACCESS: Good • VISIBILITY: Good • SHAPE: Square • TOPOGRAPHY: Level at street grade slight slope • SITE IMPROVEMENTS: Asphalt paved parking areas, signage, landscaping, curbing, and drainage • FLOOD ZONE: Zone AE FEMA Map & Date 23031C0384G, effective on7/17/2024 • ZONING: Urban • PARKING: Paved • UTILITIES: Public water & sewer, electric, cable, and telephone IMPROVEMENTS • BUILDING: Restaurant - Bar • LAYOUT: Restaurant- First and second floor dining floor • SEAT COUNT: 150 Inside - 28 Outside - Confirm counts with Town Office • GROSS BUILDING AREA: 6,921+/- SF Total. 2,166+/-SF of restaurant on the first floor, 2,166+/-SF of restaurant/bar on the second floor, 2,166+/-SF of finished space in the basement • NUMBER OF FLOORS: 2 • HANDICAPPED ACCESSIBILITY: First Floor handicapped Accessible • BUILT: Circa 1973 with complete interior refinish 2022. • STRUCTURAL FRAME: Brick • FOUNDATION: Masonry basement • FLOORS: Carpet, Concrete, Tile • INTERIOR FINISH: Interior finish consists of painted sheetrock and plaster walls. Drop paneled ceilings in bar/lounge. Mix of hardwood & ceramic tile. • CONDITION: Exterior is in good condition. Interior is in very good condition • EXTERIOR WALLS: Brick/Masonry • ROOF: Flat • ROOF SURFACE: Tar, Gravel, Rubber • WINDOWS: Mix of vinyl clad double hung and casements. • DOORS: Glass, wood and metal • FLOORING: Ceramic and Tile • INTERIOR WALLS: Painted drywall • INTERIOR CEILINGS: Drywall • HEATING/COOLING: Forced/Central Air Heat Pump • INTERIOR LIGHTING: Recessed LED • RESTROOMS: The property features adequate public restrooms for men and women • FUNCTIONAL UTILITY: Fully functionally adequate for its intended use as restaurant. • ASSESSOR ID: Map K30, Lot 43 Terms: A $25,000 deposit in CASH or CERTIFIED U.S. FUNDS, made payable to the Keenan Auction Co., Inc., (deposited with the Auctioneer as a qualification to bid), with balance due and payable within 45 days from date of auction. The deposit must be increased to 10% of the purchase price within 5-business days of the public sale. The property will be sold by public auction subject to all outstanding municipal assessments. All personal property, food service equipment, furnishings, and electronics will be sold together with the real estate as an entirety. All other terms will be announced at the public sale. For a Property Information Package contact the auctioneers office and request by auction number 26-45. Our 54th Year and 8,880th Auction.

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Listing ID: 11686369