Maine College Town Hotel
Hospitality
for Sale
| Catylist Listing ID: |
30770157 |
| Property Subtypes: |
Convention Center, Hotel
|
| Number of Units: |
68 Units |
| Building Size (RSF): |
See Agent |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
5.11 Acres
|
| Sale Price: |
$5,675,000 |
| Unit Price: |
$83,455.88 Per Unit |
| Property Use Type: |
Investment, Vacant/Owner-User |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
9.82% |
| Last Updated: |
5/6/2022 |
Overview / Comments
We are pleased to present the opportunity to acquire a 68-unit hotel in the charming college town of Orono, Maine. Conveniently located off I-95 within minutes of the University of Maine, the turn-key independent hotels offers a strong, consistent revenue generator in good condition.
There is immediate upside potential by adding a franchise (currently independent), as well as well as for further development with plans for 68 additional guest rooms and utility connections in place.
Amenities include 7,560 sq. ft. of event/meeting space, a fitness center, breakfast area, guest laundry, and ample parking on the 5.11 acre parcel.
The property is well located providing easy access to provides easy access to the area's demand generators, including downtown Bangor, Hollywood Casino, and the summer concerts at Darling's Waterfront Pavilion (10.5 mi), and Acadia National Park (54 mi) – one of America's most popular national parks.
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Additional Details
| Nearest MSA: |
Bangor |
| County: |
Penobscot |
| Tax ID/APN: |
11-00-057 |
| Zoning: |
COMMERCIAL |
| Total Number of Buildings: |
1 |
| Property Condition: |
Good |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
3,921 |
17,418 |
23,175 |
| Median Age: |
25.31 |
30.25 |
33.63 |
| Households: |
436 |
5,899 |
8,338 |
|
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