1404 Post Road, Wells, Maine

Hospitality for Sale
Catylist Listing ID: 30749977
Property Subtypes: Motel, Vacation Rental(s)
Number of Units: 27 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Gross Land Area: 1.76 Acres
Sale Price: $2,400,000
Unit Price: $88,888.89 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/18/2021

Overview / Comments

Wells-Route 1 Motel 27 keys. Well maintained facility and ready to go. Good mix of motel, cottages and suite units. Comfortable owner apartment with suites upstairs. Good year round income potential.
Pool, spa, children's play area, open space in the rear of the property for cookouts or games and guest canteen. Convenient location to Wells beach, Steakhouse and Congdon Donuts. Just far enough away from the noise for a quiet and relaxing vacation. Seasonal Trolley stops in front of this location to transport guests to the beach, Ogunquit and area attractions. Ogunquit Play House, Kennebunkport and Portland a short drive.
Good history of returning patrons.

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: WLLS-000129-000000-014
Zoning: GENERAL BUSINESS
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Visibility: Excellent
Feet of Frontage: 184
Highway Access: Interstate 95(Maine Turnpike) 3 miles away
Airports: Portland International Jetport 20 miles away
Site Description: Level lot with 184' of frontage on Route 1(Town of Wells Map 129-14). Excellent site lines in both directions entering and exiting subject property. Well maintained property and aesthetically pleasing from Route 1.
Area Description: Route 1 is comprised of a mix of small offices, small owner run businesses, condominium associations, restaurants, and some national brand franchisees.
Nearby Attractions: Some of the attractions include Wells Beach, Antique Auto Museum, Wells Reserve at Laudholm Farms, Wonder Mountain Fun Park, Ogunquit Playhouse, Wells Beach Mini-Golf, many golf courses, and restaurants. Kennebunkport and Portland are nearby.
Total Number of Buildings: 11
Number of Stories: 1
Property Condition: Good
Year Built: 1940
Year Renovated: 2005
Construction/Siding: Vinyl Siding
Average Occupancy Rate: 95
Water Recreation: Outdoor Pool, Spa
Exterior Description: Excellent visibility from Route1, level site, multiple cottages, motel buildings and main house. 1.76 acres with open space in the rear of the property for possible expansion or equipment storage. Could be an area for campers and/or trailer rentals. Many possibilities.
Total Parking Spaces: 40
Parking Type: Surface
Parking Description: Paved and lighted parking for guests with additional parking area for overflow
Sprinklers: None
Laundry: Shared
Heat Type: Other
Heat Source: Wall Units
Air Conditioning: Window Unit
Internet Access: Cable, ISDN
Zoning Description: General Business Zone
Lot Frontage: 184'
Lot Depth: 593' +/- Refer to Town of Wells Map 129-14
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Town of Wells, ME, Map 129-14

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 608 5,121 14,397
Median Age: 58.09 53.03 51.05
Households: 304 2,342 6,527

Contact

Photograph of Listing Agent

Donald Pilon

Bean Group
NECPE Member
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