Hotel with Conference
1963 Medway Road Medway, ME 04460
1963 Medway Road, Medway, ME, 04460
$2,250,000
For Sale
$2,250,000
Built in 1995, the property offers 38 rooms and a conference room, with an attached 60' x 80' storage building.
Property Size20,000 SF
Price / SF$112.50
Days on Market655
Property Features for 1963 Medway Road
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Property subtype
- Commercial / Multi Family
Building Details
- Year Built
- 1995
Listing agency
True North Realty, Inc.
(207) 370-0559
Listed by
James Spear · License #BA925976
(207) 370-0559
Source
Compass
Added: Oct 5, 2024 Updated: Jul 20 at 7:33PM Checked: Jul 21 at 5:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of True North Realty, Inc.
Investment Insights
Based on property information with market context.
This well-run hotel was built in 1995 and offers 38 guest rooms, ranging from single accommodations up to two-bedroom units. The property also includes efficiency apartments for longer stays. A conference room has been used for business meetings, reunions, and local wedding events.
An attached 60' x 80' building is included and described as being well ventilated, with potential for ATV or snowmobile storage. The property is connected directly to the ITS.
The asset is positioned to serve travelers seeking outdoor recreation access, with the remarks noting that more than 60,000 visitors each year visit Baxter State Park.
An attached 60' x 80' building is included and described as being well ventilated, with potential for ATV or snowmobile storage. The property is connected directly to the ITS.
The asset is positioned to serve travelers seeking outdoor recreation access, with the remarks noting that more than 60,000 visitors each year visit Baxter State Park.
Key Highlights
- Built in 1995 with 38 rooms, including single units, two‑bedroom units, and efficiency apartments for longer stays
- Conference room available for business meetings and events
- Attached well‑ventilated 60' x 80' building for ATV/snowmobile storage
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $288.0k | $14.40 |
| − Vacancy | −$34.6k | −$1.73 |
| EGI | $253.4k | $12.67 |
| − OpEx | −$133.1k | −$6.65 |
| NOI | $120.4k | $6.02 |
20,000 SF · lease $14.40/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$1.72M
$1.50M – $2.01M
NOI $120,384 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.46M
$5.65M – $7.54M
NOI $452,160 @ 7.0% cap · market cap 20.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gateway Inn
Hotel & Motel
FAQs
What type of property is this?
Hotel - Built in 1995, the property offers 38 rooms and a conference room, with an attached 60' x 80' storage building.
Where is this hotel located?
The property is located at 1963 Medway Road Medway, ME.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Built in 1995 with 38 rooms, including single units, two‑bedroom units, and efficiency apartments for longer stays; Conference room available for business meetings and events; Attached well‑ventilated 60' x 80' building for ATV/snowmobile storage
