18-Unit Motel Across From
For Sale
$1,950,000
98-102 E East Grand Avenue, Old Orchard Beach, ME 04064
Year-round lodging property with an owner’s residence, cottage, pool, and proximity to Old Orchard Beach attractions.
Property Size8,307 SF
Days on Market1014
Property Features for 98-102 E East Grand Avenue
General Information
Standard status
Active
Size
8,307 SF
Property subtype
Commercial
Zoning
BRD
Taxes and HOA fees
Annual Taxes
$12,899
Building Details
Building Size
8,307 SF
Listing Agency:
Realty Sales Inc
(207) 985-4000
Listed By:
David Trottier
(207) 985-4000
Source:
Startpoint
Added: Nov 20, 2023
Changed: Aug 29
Last Checked: Aug 29 at 7:19PM
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 Realty Sales Inc
Investment Insights
Based on property information with market context.
This 18-unit motel includes 16 guest rooms, an owner’s unit, and a two-bedroom cottage. The owner’s residence includes a reception office, kitchen, living room, three bedrooms, laundry facilities, and a one-car garage on the main level. Finished lower-level space adds two bedrooms, a full bathroom, a studio with its own full bathroom, and a family room that can support additional rental use. Property improvements include a heated in-ground pool and a newly paved parking lot. Some second-floor rooms offer water views.
Positioned directly across from the beach at 98-102 E East Grand Avenue in Old Orchard Beach, the property is a short walk from the pier, amusement park, restaurants, and shopping. The motel is licensed for year-round rentals, with units available for daily, weekly, monthly, and annual occupancy arrangements.
Positioned directly across from the beach at 98-102 E East Grand Avenue in Old Orchard Beach, the property is a short walk from the pier, amusement park, restaurants, and shopping. The motel is licensed for year-round rentals, with units available for daily, weekly, monthly, and annual occupancy arrangements.
Key Highlights
- 18‑unit motel with 16 motel units, an Owner's Unit, and a Two Bedroom Cottage
- Owner's Unit includes a front reception office, kitchen, living room, 3 bedrooms, laundry facility, and one‑car garage
- Finished basement includes 2 bedrooms, a full bath, a small studio with its own full bath, and a finished family room
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
$100,619
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
5.16%
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%
$2,012,380
$2.0M
Cap Rate 7%
$1,437,414
$1.4M
Cap Rate 9%
$1,117,989
$1.1M
Market Conditions
NOI Build-Up for 8,307 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
$249.2K $30.00/SF
− Vacancy
−$37.4K −$4.50/SF
EGI
$211.8K $25.50/SF
− OpEx
−$111.2K −$13.39/SF
NOI
$100.6K $12.11/SF
Area
York County, ME
Vacancy
15.00%
Lease Rate
$30.00 /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%
$2,012,380
Cap Rate 7%
$1,437,414
Cap Rate 9%
$1,117,989
Alternative Uses
Best Use
Hotel Hospitality
$1.44M
$1.26M – $1.68M
NOI $100,619 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,329 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- BillowHouse Oceanfront Motel and Guesthouse — 2 Temple Ave, Ocean Park, ME 04063
- Curtis Guest House — 16 Temple Ave, Old Orchard Beach, ME 04064
- Ancona Beach House — 13 Ancona Ave, Old Orchard Beach, ME 04064
- Nautical View New Cottage Steps to Beach — 2 Tunis Ave, Old Orchard Beach, ME 04064
- Concorde Motel — 136 W Grand Ave, Old Orchard Beach, ME 04064
Frequently Asked Questions
What type of property is this?
Motel - Year-round lodging property with an owner’s residence, cottage, pool, and proximity to Old Orchard Beach attractions.
Where is this motel located?
The property is located at 98-102 E East Grand Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 18‑unit motel with 16 motel units, an Owner's Unit, and a Two Bedroom Cottage; Owner's Unit includes a front reception office, kitchen, living room, 3 bedrooms, laundry facility, and one‑car garage; Finished basement includes 2 bedrooms, a full bath, a small studio with its own full bath, and a finished family room
