My Current Maine Inns For Sale
Bed and Breakfasts, Inns, Resorts, Boutique Hotels, Motels and Rental Cottages
SOLD 3/28/19! The Lighthouse Inn & Carriage House, York Beach, Listed for $3,150,000
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31 units (currently 30 guest rooms and a manager's unit)
Just steps to Long Sands Beach and a short stroll to the lighthouse situated on 1 acre onsite parking pool, hot tub, plenty of outdoor space for guests to enjoy STRONG financials |
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SOLD 3/15/19! Edgewater Inn in Kennebunkport, Maine
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Fully renovated, new roof, new siding. All fresh, contemporary. 12 guest rooms with ensuite baths. All new hardwood floors. Lovely, bright dining room. Very desirable destination location on a small cove. Very strong seasonal business, could operate year round.
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Youngtown Inn in Lincolnville $1,349,000 - Details
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Spacious 6 room inn with gorgeous French style country casual restaurant, huge commercial kitchen, just 4 miles to Camden and 1 mile to Cellardoor Winery. 4 bedroom owner's house, separate building for growing the event side of the business. Strong financials. A great opportunity to carry on a 28 year tradition.
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Sold 3/29/19! West End Inn Portland, Bon Appetit's 2018 'Restaurant City of the Year'
List Price $1,325,000
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This Inn is a chic 6 room urban style inn in Portland's desirable neighborhood near the Western Promenade, renowned for its brick-lined avenues. Period architectural details, contemporary furnishings, very strong business!
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Bucksport Motor Inn - $1,300,000 - Details
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24 unit motel that has been fully renovated top to bottom - new roof, windows, siding, brick veneer, solar panels, furnaces. The motel is so well maintained. Ready for the next owner to walk in and do the marketing! Financially viable.
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SOLD5/16/19! Prominent Rockland Inn
Rockland was just named the "Best Place to Live in Maine" by Down East Magazine!
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Gorgeous Victorian built in 1893 on .74 acres w/gardens. 8 guest rooms with en-suite baths, original woodwork throughout,
double parlors, high ceilings, large wrap porch. Open year round. Detached private owner's cottage. Strong business. |
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James Place Inn, Freeport - $1,095,000 - Details
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This inn has 7 guest rooms with ensuite baths (4 jetted tubs), great location steps from the heart of Freeport, but on a quiet residential side street. A bonus here is a 2,000 sf owner's home built in 2011 designed to blend seamlessly with the inn. Very strong business in place. Open year round.
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Open Hearth Inn, Trenton (at the head of Mount Desert Island) $1,100,000 - Details
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Situated at the head of Mount Desert Island, Open Hearth Inn offers 17 units total: 8 adorable cottages, 4 lodge building rooms, 3 inn style suites and 2 fully furnished apartments. Fully improved over the last 3 years. Strong seasonal business!
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Inn At Bath, in lovely Downtown Historic Bath - $795,000 - Details
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Built in 1840
8 guest rooms w/private baths A lot of natural light. .32 acres located on an historic tree lined street downtown 2 large parlors, large sunny dining room spacious open kitchen beautiful perennial gardens stone patio open year round |
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People always ask why it seems there are a lot of inns on the market. First, there are a LOT of inns in Maine. But at any given time, during various up and down times of our economy, there are always a number of Maine inns for sale. Over the last 10 years, it's been common for me to have 12-17 listings at all times. Some were on the market prior to the recession and then pulled them off. Then some went back on around the same time, when the economy began to pick up.
Why are they selling? The most common reason is to spend more time with children and grandchildren, followed by just time to retire. Innkeeping is a pre-retirement job, but it is not retirement! We first bought our inn when I was 38. Guests would come in and immediately after I'd say "welcome, I'm your innkeeper Dana", they'd respond "You're the owner? You're too young to be retired"! And I would chuckle.
Innkeeping is not retirement. It's a transitional job before retirement that provides a wonderful lifestyle allowing you to work from home, often with a partner, grow your business investment and operate until you are ready to sell or actually retire.
Why are they selling? The most common reason is to spend more time with children and grandchildren, followed by just time to retire. Innkeeping is a pre-retirement job, but it is not retirement! We first bought our inn when I was 38. Guests would come in and immediately after I'd say "welcome, I'm your innkeeper Dana", they'd respond "You're the owner? You're too young to be retired"! And I would chuckle.
Innkeeping is not retirement. It's a transitional job before retirement that provides a wonderful lifestyle allowing you to work from home, often with a partner, grow your business investment and operate until you are ready to sell or actually retire.
Definitions
The lodging industry in itself is very much a lifestyle. Travel and tourism is a lifestyle. And incorporating the ownership of a lodging property, regardless of financial performance, can be referred to as 'lifestyle'. We represent sellers of a variety of distinctive lodging styles such as bed and breakfasts, cabins and cottages, boutique hotels and the emerging boutique motels. These are "property types".
We have the following terms that are used to help understand the financial side of this lifestyle purchase:
“Financially Viable” means inns and B&B’s that generate sufficient income to cover operating expenses, debt service (mortgage), and owner’s compensation.
“Feasible” means properties with a size and location that have the realistic potential to become financially viable. They may include unique hospitality properties that are under-performing (for health, personal choice or other reasons), closed, distressed, or currently used for other purposes. Read our article “F is for Feasible Inn For Sale” that explains this in more detail.
“Lifestyle” means inns and B&B’s whose smaller size and revenues may not generate sufficient income to cover operating expenses and debt service (mortgage). These inns are operated by owners who wish to enjoy the lifestyle of running a bed & breakfast without totally relying upon the business’s revenues.
The lodging industry in itself is very much a lifestyle. Travel and tourism is a lifestyle. And incorporating the ownership of a lodging property, regardless of financial performance, can be referred to as 'lifestyle'. We represent sellers of a variety of distinctive lodging styles such as bed and breakfasts, cabins and cottages, boutique hotels and the emerging boutique motels. These are "property types".
We have the following terms that are used to help understand the financial side of this lifestyle purchase:
“Financially Viable” means inns and B&B’s that generate sufficient income to cover operating expenses, debt service (mortgage), and owner’s compensation.
“Feasible” means properties with a size and location that have the realistic potential to become financially viable. They may include unique hospitality properties that are under-performing (for health, personal choice or other reasons), closed, distressed, or currently used for other purposes. Read our article “F is for Feasible Inn For Sale” that explains this in more detail.
“Lifestyle” means inns and B&B’s whose smaller size and revenues may not generate sufficient income to cover operating expenses and debt service (mortgage). These inns are operated by owners who wish to enjoy the lifestyle of running a bed & breakfast without totally relying upon the business’s revenues.
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View My Sold Properties
Maine Inns for Sale, by Dana Moos
