21 Room Seasonal Motel
Hospitality
for Sale
| Catylist Listing ID: |
30843037 |
| Property Subtypes: |
Motel
|
| Number of Units: |
20 Units |
| Building Size (RSF): |
18,587 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
3.50 Acres
|
| Sale Price: |
$2,400,000 |
| Unit Price: |
$120,000 Per Unit |
| Property Use Type: |
Investment, Business |
| Building Name: |
Bailey Island View Motel |
| Name of Establishment: |
Bailey Island View Motel |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/16/2023 |
Overview / Comments
|
Iconic Bailey Island View motel on 3.5 acres has been transformed into a fresh, hip, colorful, fun destination just minutes from the world famous Cribstone Bridge and all things Maine. 19 refurbished units, 20 x 40 fresh water pool, and an eye catching store with the perfect hostess gifts and wedding presents. The outdoor kitchen area with grills, umbrella tables and generous seating is perfect for family reunions and preparing lobster fresh off the boats. Private 2 bed, 2 bath owners/managers quarters. Ask to see the extensive quality renovation list. Work 6 months a year and take the rest of the year off. The numbers really work today with excellent upside growth potential going forward
|
Additional Details
| Nearest MSA: |
Portland-South Portland |
| County: |
Cumberland |
| Tax ID/APN: |
HARP-000024-000000-000256 |
| Zoning: |
COMMERCIAL/INTERIOR |
| Retail Clientele: |
Traveler, Tourist, Recreation |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Route 24 |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Property Condition: |
Excellent |
| Year Built: |
1959 |
| Year Renovated: |
2022 |
| Roof Type: |
Flat |
| Construction/Siding: |
Wood Frame |
| Water Recreation: |
Outdoor Pool |
| Parking Type: |
Surface |
| Parking Description: |
Paved parking lot |
| Heat Type: |
Electricity, Oil |
| Heat Source: |
Baseboard, Heat Pump |
| Air Conditioning: |
Other |
| Water Service: |
Well |
| Sewer Type: |
Septic |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
2,093 |
5,956 |
| Median Age: |
53.53 |
52.26 |
| Households: |
996 |
2,752 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
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