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    185 E Grand Avenue Old Orchard Beach, ME 04064

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    Claim this Listing
    For Sale
    $4,950,000

    COMMERCIAL - Old Orchard Beach, ME

    Property size:
    4,933 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $1,003/SF
    Added:
    Dec 15, 2025
    Days on Market:
    130
    Last Refresh:
    Apr 24 at 12:06 am

    Property Features for 185 E Grand Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    BRD
    Interior features
    Storage
    Standard status
    Active
    Size
    4,933 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    12149

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Baseboard
    Water source
    Public

    Building Details

    Year built
    1950
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Cristina Eugen

    Listing agent Cristina Eugen

    Listing office Keller Williams Realty 50 Sewall Street, Portland, ME

    Listing date Dec 15, 2025

    MLS# 1637623

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Old Orchard Beach Lodging Compound

    This established 14-unit lodging compound is located in Old Orchard Beach, Maine. Situated near the white sands spanning Pine Point to Ocean Park, the property is also close to restaurants, amusement parks, boutiques, seafood markets, and live music venues. The property includes restaurants, amusement parks, boutiques, fresh seafood & produce markets, canoe/kayak/bike/golf cart rentals, live music venues & local attractions. The compound features renovated rooms, three units in two newly constructed cottages, and a paved patio area with barbecues, sun umbrellas, picnic benches, and an outdoor shower. It is equipped to accommodate large groups. On-site amenities include housekeeping facilities, an oversize garage, and ample parking and storage. The owner's quarters consist of the footprint of the original lodging, along with an interior access office. The property size is 4,933 square feet on a lot of 0.18 acres. This commercial real estate is zoned BRD.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Patra's Grand Beach ... Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Accounting Firm Food Market Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Crest Motel — 35 E Grand Ave, Old Orchard Beach, ME 04064
    • Green Dolphin Motel — 62 E Grand Ave, Old Orchard Beach, ME 04064
    • Surf Inn — 37 E Grand Ave, Old Orchard Beach, ME 04064
    • Donde estamos; — 41E E Grand Ave, Old Orchard Beach, ME 04064
    • Beach Breeze Apartments — 40 e grand ave, old orchard beach, me 04064

    Location Insight

    • Map
    • Local Demand
    City
    Old Orchard Beach
    County
    York
    State
    Maine
    Longitude
    -70.3633163
    Latitude
    43.5282631

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    FAQs

    What type of property is this?
    Motel - Landmark 14-unit lodging compound in Old Orchard Beach, Maine.
    Where is this motel located?
    The property is located at 185 E Grand Avenue Old Orchard Beach, ME.
    What is the asking price?
    The asking price for this property is $4,950,000.
    What are key features of this property?
    This property features: Turnkey, established 14‑unit lodging compound with a 30‑year repeat business track record.; Prime location steps from the beach and close to attractions, restaurants, and entertainment.; Luxurious owner's quarters with ocean and marsh views, private deck, and interior access to the office.
    (207) 710-1477
    We can help!
    Listing Contact
    Cristina Eugen
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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