Boutique Style Motel Directly Across from Beach

Hospitality for Sale
Catylist Listing ID: 30316373
Property Subtypes: Motel
Number of Units: 12 Units
Building Size (RSF): 4,848 SF
Gross Building Area: See Agent
Gross Land Area: 0.18 SF
Sale Price: $975,000
Unit Price: $81,250 Per Unit
Property Use Type: Investment
Building Name: Sir Charles Motel
Name of Establishment: Sir Charles Motel
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/26/2018

Overview / Comments

Sir Charles Motel is a 12 unit motel located directly across the street from 7 miles of beautiful beach and within short walking distance of pier, amusement, restaurants, nightclubs and more. Large studios or two bedroom units with fully equipped kitchenettes and air conditioning units. Large shared balconies and parking on site. Security system and small manager's quarters on site. Property has been extensively renovated - see broker for list of all renovations and all FF&E included. Also listed is sister property Green Dolphin Motel for package price of $3,700,000. Possible condo conversion with Town approval but was approved in past.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $7,662 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: OOBH-000304-000007-000006
Zoning: DD-2
Retail Clientele: Tourist
Property Visibility: Excellent
Largest Nearby Street: Walnut Street
Airports: Close to Portland Jetport and Biddeford Airport
Nearby Attractions: Palace Playland, Old Orchard Beach Pier, Funtown/Splashtown, Aquaboggan, Cinemagic and many others.
Total Number of Buildings: 2
Number of Stories: 3
Property Condition: Excellent
Year Built: 1985
Year Renovated: 2015
Roof Type: Arched
Construction/Siding: Vinyl Siding
Parking Type: Surface
Laundry: Shared
Heat Type: Electricity
Heat Source: Baseboard, Other
Air Conditioning: Window Unit
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,999 17,245 49,852
Median Age: 45.02 46.22 43.53
Households: 1,985 7,943 21,817
The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.