Down Easter Inn

Hospitality for Sale
Catylist Listing ID: 30872184
Property Subtypes: Inn, Motel
Number of Units: 25 Units
Building Size (RSF): 17,556 SF
Gross Building Area: See Agent
Gross Land Area: 39.92 Acres
Sale Price: $1,700,000
Unit Price: $68,000 Per Unit
Property Use Type: Vacant/Owner-User, Business
Building Name: Down Easter Inn
Name of Establishment: Down Easter Inn
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/24/2024

Overview / Comments

Rare opportunity to acquire an inn with expansion potential in midcoast Maine. Nestled on nearly 40 acres, the Down Easter Inn in the picturesque town of Damariscotta, Maine, is a charming retreat steeped in rich heritage. With roots dating back centuries, this esteemed establishment is listed on the National Register of Historic Places boasting a Greek Revival facade that exudes timeless elegance.

The main house plays host to nine bedrooms (three with their own bathroom, and several with their own fireplace), reception area, impressive front porch, dining room, living room, and kitchen. 22 guest rooms were added in the 1980s, each with their own ensuite. Adjacent to the inn, the cottage offers a private retreat with two-bedrooms, living room, kitchen, and bathroom. A separate two-car garage allows for additional storage or alternate use (bike rental storage, fitness center, gift shop, etc.), and the expansive grounds are ideal for weddings, games, and other events.

Conveniently located just a short drive from Pemaquid Beach, Boothbay Harbor, and other local attractions, the Down Easter Inn presents a prime investment opportunity for Maine’s thriving hospitality market.

Additional Details

Nearest MSA: Augusta-Waterville
County: Lincoln
Submarket Type: Other
Tax ID/APN: DAMA-000001-000000-000028-000001
Zoning: COMMERCIAL
Retail Clientele: General, Family, Traveler, Tourist
Property Visibility: Good
Largest Nearby Street: Bristol Road
Feet of Frontage: 440
Airports: Portland Jet Port
Area Description: Located near the head of the Damariscotta River, twelve miles from the ocean, Damariscotta is a key focal point for mid coast Maine residents and visitors.Just under 40 acres and only 11 miles from Pemaquid Beach in midcoast Maine. The Inn and cottages share access to the common area waterfront on the Damariscotta River, just across the street.
Nearby Attractions: Pemaquiad Point Lighthouse Coastal Maine Botanical Gardens Main Street Aquarium Monhegan Island Art Galleries Lakes & Beaches
Total Number of Buildings: 3
Number of Stories: 3
Property Condition: Good
Year Built: 1850
Year Renovated: 1980
Exterior Description: Greek Revival completion is part of the Natuional Register of Historic Places. Colonnaded porch
Parking Type: Surface
Parking Description: Ample Parking on Property
Laundry: Shared
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,889 7,578
Median Age: 50.69 49.78
Households: 2,258 3,419

Contact

Photograph of Listing Agent

David Costello

RockWater Group / KW Commercial
NECPE Member
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