29 Dock Square

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OFFERING MEMORANDUM 29 DOCK SQUARE, KENNEBUNKPORT, ME

CONFIDENTIALITY AGREEMENT

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and The Boulos Company. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner nor The Boulos Company, nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time

with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or The Boulos Company. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or The Boulos Company.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to The Boulos Company.

DISCLAIMER

© 2022 The Boulos Company, Inc. The information contained in this document has been obtained from sources believed reliable. While The Boulos Company, Inc. does not doubt its accuracy, The Boulos Company, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

The Boulos Company and the The Boulos Company logo are service marks of The Boulos Company, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

CONTENTS EXECUTIVE SUMMARY PROPERTY DETAILS PROPERTY PHOTOS TENANT OVERVIEW BUILDING LAYOUT DEMOGRAPHICS 1 2 3 4 5 6

1.

EXECUTIVE SUMMARY

29 DOCK SQUARE

The Boulos Company is pleased to present a generational opportunity to acquire waterfront property in the heart of Dock Square in Kennebunkport, Maine. Last sold over 50 years ago, this quintessential property has the best location on the Square, sitting just over the Kennebunk River.

29 Dock Square consists of a primarily single-story structure with a small office and additional storage on the second floor. It is anchored by the award-winning Hurricane restaurant along with a nice assortment of smaller retail establishments. Demand for space in this location is incredibly high, and the property has a consistent backlog of potential tenants.

29 Dock Square benefits from very high foot traffic combined with beautiful views of the waterfront and convenient municipal parking. It is a stable asset providing notable rental upside as well as some creative expansion potential. This irreplaceable property is offered for sale for:

$3,750,000 $3,350,000

2. PROPERTY DETAILS

OWNER Riverview, LLC CONSTRUCTION Wood frame/Clapboard REGISTRY OF DEEDS 16947/0160 HEATING Electric, Hot Air ASSESSOR’S REFERENCE Map 11, Block 2, Lot 1 UTILITIES Municipal Water/Sewer LAND AREA 0.19± AC SPRINKLERS Fire Supression System in Kitchen BUILDING SIZE 5,953± SF PARKING One (1) designated parking spot/municipal parking available. YEAR BUILT 1894 REAL ESTATE TAXES $6,514.20 STORIES 2.0 Stories SALE PRICE REDUCED $3,750,000 $3,350,000 ZONING Shoreland General Development 29 DOCK SQUARE, KENNEBUNKPORT

3. TENANT OVERVIEW

Hurricane Restaurant (29 Dock Square) N/A $67,288.41 3,665± 12/31/2025*

Shoot the Moon Gallery (33 Dock Square) 1 $35,000.00 528± 12/31/2022

Digs, Divots, and Dogs (31 Dock Square) 2 $33,000.00 468± 12/31/2023

True North Gallery (27 Dock Square) 3 $35,000.00 945± 12/31/2023

JAK Designs (25 DOCK SQUARE) 4 $20,000.00 319± 12/31/2023

UNIT ANNUAL RENT SQUARE FT. LEASE EXPIRATION
TENANT NAME
*Tenant has one (1) five-year option to renew with CPI adjustments INCOME: $191,236.83 EXPENSES: $30,392.20 NOI: $160,844.63 EXPENSES Property Taxes $6514.20 Municipal Water/Sewer $650.00 Insurance $6,518.00 FEMA Insurance $6,710.00 Repairs & Maintenance $10,000 TOTAL $30,392.20
TOTAL $191,236.83 5,925±

4. BUILDING LAYOUT

DECK DECK DECK DECK HURRICANE RESTAURANT 3,665± SF SHOOT THE MOON GALLERY 528± SF JAK DESIGNS 319± SF DIGS, DIVOTS, & DOGS 468± SF TRUE NORTH GALLERY 945± SF Shoot The Moon Gallery Digs, Divots, & Dogs Hurricane Restaurant True North Gallery JAK Designs

ACCESS AND LOCATION

• Located in the highly-desirable Dock Square neighborhood on the Kennebunk River.

• Within walking distance of shopping, restaurants, and businesses.

• Easy access from I-95 Exit 32.

• Areas to the north and south of Kennebunk is easily accessible via Route 1.

• Downtown Portland is located within 27 miles to the north via the Main Turnpike.

• Portsmouth, New Hampshire, is located within 25 miles to the south and Boston, Massachusetts is located 89 miles to the south.

5. DEMOGRAPHICS

3 MILE RADIUS POPULATION 5,920 MEDIAN AGE 56.9 AVG. HOUSEHOLD INCOME $85,490 HOUSEHOLDS 2,694 TOTAL BUSINESSES 376 TOTAL EMPLOYEES 3,152 5 MILE RADIUS POPULATION 14,268 MEDIAN AGE 55.8 AVG. HOUSEHOLD INCOME $78,660 HOUSEHOLDS 6,614 TOTAL BUSINESSES 939 TOTAL EMPLOYEES 8,286

6. AERIAL PHOTO

29 DOCK SQUARE KENNEBUNKPORT, ME CHRISTOPHER GALLAGHER Broker +1 207.553.1728 D +1 917.673.1178 C cgallagher@boulos.com JOSEPH ITALIAANDER Associate Broker +1 207.553.1730 D +1 404.933.7844 C jitaliaander@boulos.com ©2022 The Boulos Company, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. The Boulos Company and The Boulos Company logo are service marks of The Boulos Company, Inc. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited. One Canal Plaza, Suite 500, Portland, ME 04101 207.772.1333 O 207.871.1288 F | boulos.com

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