PEMAQUID POINT, BRISTOL – On this brilliantly sunny midwinter day, you can look southeast across the gorgeous shining blue of the open Atlantic and clearly see the Monhegan shoreline almost 11 miles distant.

Could that rectangle be the island’s inn? Yes, the owner of this property informs – there are times when you can see the windows glinting from here.

“Here” meaning the dining room/living room, and the deep, side-to-side deck, and the master bedroom and its Palladian-windowed sitting area, and the kitchen, and the wide lawn of this 0.80-acre property, which has 210 feet of rocky frontage at Pemaquid Point and abuts the grounds of the historic lighthouse.

And “here” includes not only the year-round home, but also the gift shop with a 65-seat restaurant, the Sea Gull, which has been in highly successful operation since 1937; and the charming, two-bedroom seasonal cottage sitting just behind it. The property is offered for sale at $1.5 million.

The new owner will inherit a range of possibilities, beginning with “cherished family compound in a landmark oceanfront location.” While the 3,553-square-foot home cannot be enlarged, it could be reconfigured to become a bed-and-breakfast. There are also rewarding rental options: The house has been drawing $2,800 per week in-season, and would bring $2,100 weekly in the off-season.

While renting the house, the owner can live well summering in the cottage, as the seller has done for years during the restaurant/shop’s May-October season.

Built in 1988, the oversized, one-owner Cape with five bedrooms and three baths has seen significant updates, such as new well and septic and a brand-new roof. But the highlight is undoubtedly the kitchen, whose new, stainless appliances include a four-burner gas range. The open kitchen also has a generous-sized dining area, and flows into the living room, which has a wood stove on a brick hearth. Altogether the rooms are perfect for entertaining, with space extended to the deck in fine weather, and spectacular ocean views in all seasons.

A first-floor bedroom enables single-level living, and its adjacent office/living room and nearby bath invite consolidation into a wonderful suite.

The Pemaquid Point property, at 3119 Bristol Road, Bristol, is listed for sale at $1.5 million by Sherri Dunbar of Tim Dunham Realty (Wiscasset office).

For more information or to arrange a private viewing of the home and business, please contact Sherri at 380-7931 or at Sherri@DunhamRealty.com.

Produced by the Marketing Department of the Maine Sunday Telegram, the Home of the Week is provided at no cost.

Photos courtesy of  Nathan Varney.

Please send HOW suggestions to jrolfe@pressherald.com.

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