Lost Dog Pub Finds Second Home

ORLEANS, MA – Tom Davis, Richard Catania and Adam Bauer of Weichert Dunhill Commercial of Hyannis, MA brokered the sale of the restaurant formerly known as The Coast located at 63 Route 6A in Orleans, MA. Weichert Dunhill Commercial  represented both the buyer Andrew and Jane Murphy and the seller Gulf Coast LLC. The former 136-seat restaurant will be re-established as The Lost Dog Pub. The Murphy’s are the owner’s of other Cape Cod restaurants and one in the U.S. Virgin Islands.

The recently renovated two level building has 4,560 square feet of GBA and is sited on a .64 acre lot offering a prominent location with multiple curb cuts and excellent signage.

The May 2009 transfer equated to a price of approximately $166 per square foot of GBA. Coastal Community Capital  arranged the financing through the Bank of Cape Cod .

The year round restaurant was built in the early to mid 1930’s as the first Howard Johnson’s  franchise in the US. In the years that followed and until about 2005 the restaurant was the well known Fog Cutter Restaurant.

Restaurants Get Needed Refill on Tax Break

The recently passed Emergency Economic Stabilization Act of 2008 included an extension of the accelerated depreciation allowance for qualified leasehold and restaurant improvements and for certain improvements to retail space.

The National Restaurant Association hailed the passage of this “side order” provision extending the current 15-year depreciation schedule for improvements made to restaurant buildings in 2008 and 2009, and for new restaurant construction in 2009. 

According to Dawn Sweeney, President and CEO of the National Restaurant Association. “A faster, more accurate depreciation schedule has a direct impact on a restaurant’s bottom line. By shortening the depreciation schedule to 15 years, Congress has given operators cash flow to reinvest in their businesses, allowing them to grow and add more restaurant jobs.”