Echo Motel - 21 Units - Steps from Beach

Old Orchard Beach, ME (York County)

Echo Motel - 21 Units - Steps from Beach
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Asking Price: Get Financing: $1,750,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: $1,750,000

Inventory: N/A

Real Estate: $1,750,000

Established: 1958

Echo Motel - 21 Units - Steps from Beach

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Business Description

Well Established 21 Unit Motel just 50 yards from Beach.

REDUCED: Great Owner Operated Opportunity! This is a well established owner operated motel that's steps to beach, downtown, amusement park, pier, restaurants and public transportation.
This motel consists of 4 basic style rooms, from efficiency style to kitchenettes to accommodate the various needs of guests based on the size of their party.

The sellers have done a lot of major upgrades to this property in the past three years, included but not limited to all new vinyl railings and Trek style deck flooring, new pool filter and liner, new kitchen tile flooring, painting and upgrading of units.

Comparable property just sold for $1.9M...

Great CAP Rate!.

Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
9,500
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
20-Unit Motel, can be rented year round. Approximately 9500 SF, 1 Bedroom Owners Apartment & Office, Cozy Year Round 2-bdrm cottage located across the street on East Grand, with additional parking behind the cottage. Units decks and patios overlook heated in-ground pool. View more details and photos at www.echomotel.com Oceanfront houses viewed on web are NOT included in sale, but may be negotiable, now or in the future for expansion.
Competition:
Location - 50 Yards from sandy beaches. Great visibility, curb appeal and repeat customers. Cottage rented year round.
Growth & Expansion:
Revenues increased by over 15% in 2016 due to converting mid-season to a new Online Booking site, and anticipated greater increase in 2017.
Support & Training:
Reasonable training available
Reason for Selling:
Semi Retiring
Business Website:
http://www.echomotel.com
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Contact the Seller

(from currently available funds)
 
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Charlene Weinstein

Business Listed By:
Charlene Weinstein

Charlene's Coastal Properties, LLC

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