Lakefront Sporting
For Sale
$924,900
1174 Cove Road, Seboeis Plt, ME 04448
Established waterfront retreat with furnished cabins, lodge facilities, and recreational amenities.
Property Size7,000 SF
Lot Size5.90 Acres
Days on Market877
Property Features for 1174 Cove Road
General Information
Standard status
Active
Size
7,000 SF
Lot size
5.90 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,175
Amenities
commercial kitchen
dining area
screened porch
tackle shop
two guest suites
recreation center with pool table, poker, and foosball tables
two shower houses
dock house
garage
outbuildings
lakeside firepit
three seasonal dock systems
14-foot aluminum boats
canoes
kayaks
Building Details
Building Size
7,000 SF
Year Built
1920
Listing Agency:
RE/MAX Infinity
(207) 270-0267
Listed By:
Cynthia Quimby
(207) 270-0267
Source:
Startpoint
Added: Apr 3, 2024
Changed: Aug 24
Last Checked: Aug 26 at 10:11AM
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 RE/MAX Infinity
Investment Insights
Based on property information with market context.
South Branch Lake Camps is a resort property on a 5.9-acre peninsula with 1,677 feet of private shoreline. The accommodations include 11 furnished cabins with knotty pine interiors, heating, half baths, and screened porches; the three largest also have full kitchens. A 2,600-square-foot furnished lodge provides a commercial kitchen, dining area, screened porch, tackle shop, and two guest suites.
Additional improvements include a recreation center with pool, poker, and foosball tables; two shower houses; a dock house; a large garage; outbuildings; a lakeside firepit; and three seasonal dock systems. Aluminum boats, canoes, and kayaks are included. The property is approximately 45 minutes from Bangor and 15 minutes from Interstate 95, with Residential zoning and a 1920 year built.
Additional improvements include a recreation center with pool, poker, and foosball tables; two shower houses; a dock house; a large garage; outbuildings; a lakeside firepit; and three seasonal dock systems. Aluminum boats, canoes, and kayaks are included. The property is approximately 45 minutes from Bangor and 15 minutes from Interstate 95, with Residential zoning and a 1920 year built.
Key Highlights
- 5.9‑acre peninsula with 1,677 feet of private shoreline on South Branch Lake
- 11 furnished cabins with heating, half baths, and screened porches
- Three largest cabins include full kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,134
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$842,680
$842.7K
Cap Rate 7%
$601,914
$601.9K
Cap Rate 9%
$468,156
$468.2K
Market Conditions
NOI Build-Up for 7,000 SF
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.
Gross rent
$100.8K $14.40/SF
− Vacancy
−$12.1K −$1.73/SF
EGI
$88.7K $12.67/SF
− OpEx
−$46.6K −$6.65/SF
NOI
$42.1K $6.02/SF
Area
Penobscot County, ME
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$842,680
Cap Rate 7%
$601,914
Cap Rate 9%
$468,156
Alternative Uses
Best Use
Hotel Hospitality
$601.9K
$526.7K – $702.2K
NOI $42,134 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,256 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 04448, ME
1,265
Population
692
Households
1.8
Avg Household Size
52
Median Age
14%
College-Educated
92%
High-School Grad
93.9 sq mi
ZIP Area
13
Density / Sq Mi
$48,958
Median Household Income
$34,444
Median Earnings
$938
Median Rent
$115,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Resort - Established waterfront retreat with furnished cabins, lodge facilities, and recreational amenities.
Where is this resort located?
The property is located at 1174 Cove Road Seboeis Plt, ME.
What is the asking price?
The asking price for this property is $924,900.
What are key features of this property?
This property features: 5.9‑acre peninsula with 1,677 feet of private shoreline on South Branch Lake; 11 furnished cabins with heating, half baths, and screened porches; Three largest cabins include full kitchens
