Gateway Cottages

Hospitality for Sale
Catylist Listing ID: 30656888
Property Subtypes: Extended Stay, Motel, Resort, Vacation Rental(s)
Number of Units: 13 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Sale Price: $550,000
Unit Price: $42,307.69 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/12/2020

Overview / Comments

Ideally situated on Route 1 and Route 27 (on the way to Boothbay Harbor Region)
this 5+acre lot provides an average daily traffic count of 20,000 cars per day. The
property has two unique commercial uses. There is a vacant one-story commercial
building and an additional vacant building along Route 1. This commercially zoned
space is an excellent opportunity for redevelopment and repositioning on the
highly traveled US Route 1 near Wiscascasset and just a few minutes to nearby
restaurants, shopping, and ten miles from the Boothbay Harbor Region. The second area of opportunity is the 13 renovated cottages which are situated on a
bluff with seasonal water views of the Sheepscot River offering an additional
revenue source.

Attachments & Media

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $7,083 (Annual)

Additional Details

Nearest MSA: Augusta-Waterville
County: Lincoln
Tax ID/APN: 5465/258
Zoning: COMMERCIAL

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,470 3,074 3,074
Median Age: 49.33 52.48 52.48
Households: 692 1,555 1,555
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