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: |
4/22/2024 |
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.
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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 |
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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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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