Hospitality

1044 Commercial St


1044 Commercial St
RockportME 04856

1044 Commercial St

Hospitality

1044 Commercial St, RockportME 04856

Details

Rentable Space
8,036 SF
Land
3.44 Acres
Zoning
907M - MODIFIED MIXED BUSINESS/RESIDENTIAL
Building Status
Existing
Number of Buildings
4
Year Built
1960
Total Parking
30
Occupancy Type
Single Tenant
Number of Units
19
Water Utility Available
Yes
Sanitary Sewer Utility Available
Yes
County
Knox

Current Listings

Midcoast Maine Motel

8,036 SF$995,000

New Price at nearly $400k LESS than appraised value done in 2016! Property has had several updates since and revenue has remained consistent.

Turn-key, 19-unit motel well-maintained by the same owners for over 20 years and ideally located along highly traveled Route 1 between the tourist destinations of Rockland and Camden. Amenities include a heated outdoor pool, breakfast room, and several outdoor sitting areas. A three-bedroom owner's residence allows a new owner the unique opportunity to operate the property themselves, or hire an on-site manager. The property enjoys a strong financial performance on a yearly basis providing an excellent opportunity for a first time hospitality operator or an investor looking to increase their portfolio.

Potential further development as owners previously had plans to build an additional 3,000 sq. ft. building with retail space and another unit.

Sellers have successfully operated the property for 20+ years and have decided to pursue retirement!

New Price at nearly $400k LESS than appraised value done in 2016! Property has had several updates since and revenue has remained consistent.

Turn-key, 19-unit motel well-maintained by the same owners for over 20 years and ideally located along highly traveled Route 1 between the tourist destinations of Rockland and Camden. Amenities include a heated outdoor pool, breakfast room, and several outdoor sitting areas. A three-bedroom owner's residence allows a new owner the unique opportunity to operate the property themselves, or hire an on-site manager. The property enjoys a strong financial performance on a yearly basis providing an excellent opportunity for a first time hospitality operator or an investor looking to increase their portfolio.

Potential further development as owners previously had plans to build an additional 3,000 sq. ft. building with retail space and another unit.

Sellers have successfully operated the property for 20+ years and have decided to pursue retirement!

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: NECPE

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