Seaside Suites

Hospitality for Sale
Catylist Listing ID: 30871678
Property Subtypes: Hotel
Number of Units: 12 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Sale Price: $2,300,000
Unit Price: $191,666.67 Per Unit
Name of Establishment: Seaside Suites
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 5/24/2024

Overview / Comments

Strategically nestled in the heart of one of Maine’s most popular coastal destinations, Old Orchard Beach, this well-positioned property is just steps away from an expansive world-class beach and a short walk to the renowned OOB Pier. Recently and completely remodeled, this property is a great investment with upside potential. Seaside Suites, with its existing structure, offers a solid foundation for growth, particularly through targeted improvements and marketing strategies.

The property combines ease of management with significant growth potential. The recent remodel has transformed it into a modern, appealing destination for guests while also laying a solid foundation for future business expansions. Given its existing operational success and potential for enhanced performance, this property represents an ideal entry point into the inn-keeping lifestyle.

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: 31200_306-1-2
Zoning: MOTELS MDL-9
Site Description: Includes 44 and 46 East Grand Ave. Location: 44 E. Grand Avenue Use: Motels MDL-94 Year Built: 1910 Total Land Area: .12 Acres Floor Area: 2,816 square feet Location: 46 E. Grand Avenue Use: Motels MDL-94 Year Built: 1950 Total Land Area: .17 Acres Floor Area: 6,070 square feet
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1910
Year Renovated: 2022
Parking Description: On-Site
Heat Type: Propane, Oil
Zoning Description: Motels MDL-94
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,016 19,283 52,179
Median Age: 46.91 46.04 42.4
Households: 2,051 8,810 22,281

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