Inn Brokerage Blog
New 24 unit motel for sale in Bucksport, Maine. Financially Viable at $1.3m.
click above for the online property presentation At a Glance: Total of 24 units (1 is being used as part of the owner’s quarters for 2nd bedroom) plus 1 retail building (being leased to a barber shop) with beautiful private woodedarea in back with stone fire pit. New roof 2006, new furnaces 2007, solar system
A very strong cap rate on this Maine inn for sale! And WHAT IS A CAP RATE ANYWAY?
Cap rate, (capitalization rate), is a rate that helps us value a real estate investment. Cap rate equals the net operating income (NOI) divided by the purchase price. The cap rate shows the potential rate of return on the investment. So the higher the cap rate, the better. With me so far? Let me take
What about buying an inn that USED to be in operation some years ago?
The former inn – which is really just a house now without any business vs. an existing inn or going concern This is a question buyers ask me regularly. And the appeal understandable…the home likely already has the private ensuite baths you want, has the owner’s quarters, there wouldn’t be much in terms of renovations
Price adjustment on this wonderful inn for sale in Freeport, Maine!
NEW opportunity with this substantial price adjustment! When a seller says they are motivated, there can be many things that affect their decision to change the price to be more favorable to attract a buyer. $100,000 certainly is favorable to a buyer! The sellers, Tori and Robin, have owned James Place Inn since 2006 and
New on the market! Popular cottages at the doorstep of Acadia National Park
At a Glance-17 units: 8 cottages, 3 inn style suites, 4 lodge/motel rooms and 2 fully appointed apartments (which can be rented nightly, weekly or long term).-plenty of parking; guests can park directly next to or in front of their unit-1.41 acres-private well/all new septic-Strong seasonal business from just mid-May to mid-October.-real estate taxes $4,578
Freeport, Maine…Did You Know?
While we all know that L.L. Bean and the outlets have long been anchors for Freeport, the village has evolved into so much more! Did you know….There are concerts in the park all summer?There’s an annual winter festival in the park sponsored by LLBean?There are 2 state parks nearby?You can go fishing from Winslow Park?There
The Limerock Inn is motivated to sell?
Yes, the Limerock Inn is motivated to sell…. Why, you ask? What’s wrong? Why are they anxious to get out? These are common questions from prospective buyers when they hear a seller is motivated. But in this case, there’s no negative reason. The owners Frank and PJ are 13 years in. That’s a pretty good
New Listing – A Boutique Motel in Wiscasset
Another new listing just hit the market! This one offers high visibility on Route 1 in Wiscasset, just a few miles from Red’s Eats and their famous lobster roll. At a Glance-8 acres of woodlands-29 guest units plus 1 longer term vacation rental-Workshop and Storage Building-Laundry building with up to date commercial equipment, slop sink
New Listing! Lindenwood Inn in Southwest Harbor, Maine
A fantastic new listing just hit the market. Loads of goodwill comes with this inn – the innkeeper/owner has been there almost 27 years! Check out the listing presentation and contact me if you wish to discuss or have any questions. This issue checks off a lot of boxes… Offered at $1,700,000
When a prospective buyer asks “What’s the primary reason an innkeeper or an inn fails to succeed?”
I recently had a really great conversation with a new aspiring innkeeper. Naturally, he had a lot of questions. Many of the questions have been covered in my Top 12 Blog Posts Buyers Want To Know (which is how I came up with the topic in the first place, directly from conversations with aspiring innkeepers).
New Listing! The Lighthouse Inn & Carriage House in York Beach, Maine
A fantastic new listing just came to the market just steps from Long Sands Beach and Nubble Light. The Lighthouse Inn and Carriage House is located in York Beach’s most sought-after neighborhood, on The Nubble! There are 31 rooms; a large lobby/great room with stone fireplace; outdoor pool and hot tub; patio with umbrella tables;
Commercial Interest Rates…..up? down? up? down?
Interest rates for commercial hospitality loans remain historically low. However, we are seeing them on the rise. The most favorable recent rates we saw in January ranged from 4.35% to 4.75%. Today we are seeing 4.8% to 5.25% or higher. The better your credit, the better the cash flow of the property, the better chance
Maine Lodging and Restaurant Stats for 2017
Maine Innkeepers Association and Maine Restaurant Association have recently merged to create Maine Hospitality. Check out the “What is Maine Hospitality?” video. Maine Hospitality #HoME reported the Performance Index statewide. These are some encouraging stats: Restaurant Revenue Oct: $239,429,000 + 5.6%Restaurant Revenue Nov: $184,902,000 + 7.3% Lodging Revenue October: $83,642,000 + 7%Lodging Revenue November: $32,977,000 + 23.5%
Some History of Timbercliffe Cottage, a Maine Inn for Sale
the view from the inn I showed Timbercliffe cottage the other day and while walking around, I explained that each room was named for one of the home’s former owners. The innkeepers shared this bit of history they have about the property: Just some fun facts about this Maine inn for sale! To see more
New price on this Camden, Maine inn for sale
Blue Harbor House is now offered at $1,360,000. This charming Colonial sits in the heart of the village in one of Maine’s most popular destinations of Camden, Maine. The inn offers 11 guest rooms with private baths and a very spacious owner’s house. Very strong business, open year round. Contact me for more details or
