Caribou Inn and Convention Center

Hospitality for Sale
Catylist Listing ID: 29820018
Property Subtypes: Convention Center, Hotel, Inn, Spa, Other
Number of Units: 72 Units
Building Size (RSF): 47,440 SF
Gross Building Area: See Agent
Gross Land Area: 7 Acres
Sale Price: $3,950,000
Unit Price: $54,861.11 Per Unit
Property Use Type: Business
Building Name: Caribou Inn and Convention center
Name of Establishment: Caribou Inn and Convention Center
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/17/2017

Overview / Comments

The Caribou Inn and Convention Center along with its sister property, the Presque Isle Inn and Convention Center, are being offered for sale as a package. Both properties have served the Aroostook County market for years. The Presque Isle property is an ideal residential conversion opportunity. The Caribou Inn must be sold as part of a package.

Additional Details

Nearest MSA: Bangor
County: Aroostook
Submarket Type: Other
Taxing Authority: Caribou, ME
Tax ID/APN: 005-004-F
Zoning: BUSINESS/COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Caribou and Presque Isle Maine
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Route One and Main Street
Feet of Frontage: 1,800
Transportation: Highway, Airport, Taxi
Highway Access: Property is located directly on Route One and on Route 164 (Main Street)
Airports: Northern Maine Regional Airport
Site Description: Flat, at intersection of Route One and Main Street. Site has high exposure on both highways and is scenically located at the intersection
Area Description: Located just 9.2 miles north of Presque Isle, Aroostook County's largest city and home of Northern maine regional Airport. Aroostook Centre Mall, University of Maine at Presque Isle, the Aroostook Medical Center and just 10.8 miles from the Loring Commerce center, U.S. Defense dept Finance and Accounting Center and the Maine Military Authority equipment refurbishment facility.
Nearby Attractions: Nearby attractions include many rivers and streams, ITS trail system winter groomed snowmobile trails, as well as the International biathalon training and event facility at Mars Hill.
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1987
Year Renovated: 2013
Roof Type: Hip
Construction/Siding: Brick
Water Recreation: Indoor Pool, Hot Tub, Sauna, Spa
Parking Type: Surface
Parking Description: Flat, close to building entrances
Heat Type: Electricity
Heat Source: Wall Units
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: Includes 72 hotel rooms on 2 levels, reception area, gift shop, full service restaurant, banquet center, meeting rooms and cocktail lounge, interior swimming pool, interior courtyard and full health club and wellness center. Guest Room Features • A selection of one Double, two Double, one King rooms, and Suites. • Complimentary High-Speed Wireless Internet access • New 27" televisions with a large selection of cable television channels (includes HBO) • Direct dial phone with Voice-mail • AM/FM radio alarm clock • Iron & Ironing board • Wall-mounted Hair Dryer in bathroom • In-room Coffee-Maker • Refrigerator & Wet Bar • Rollaway beds (available upon request) Guest Services • Voice-mail • Wake-up call service • Room Service • Fax/copy service • Self-Service guest laundry • Professional Laundry / Dry Cleaning Services - includes free delivery Pets are always welcome!
Zoning Description: Business/Commercial
Lot Frontage: 1800
Lot Depth: 600
Land Ownership: Owned by Seller

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,426 6,771
Median Age: 42.12 44
Households: 1,505 2,998

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