Motel with Townhouse
For Sale
$3,200,000
136 W Grand Avenue, Old Orchard Beach, ME 04064
Three buildings combine motel rooms, four two-bedroom apartments, an owner’s residence, motel office, and guest swimming pool.
Property Size12,306 SF
Price / SF$260.04
Days on Market272
Property Features for 136 W Grand Avenue
General Information
Standard status
Active
Size
12,306 SF
Property subtype
Commercial
Zoning
R-3
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$19,442
Amenities
inground pool
Building Details
Building Size
12,306 SF
Year Built
1987
Buildings
3
Listing Agency:
Realty Sales Inc
(207) 252-7474
Listed By:
David Trottier
(207) 985-4000
Source:
Amerorealty
Added: Feb 2
Changed: Oct 31
Last Checked: Oct 31 at 2:30PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Concorde Motel comprises three buildings with a combined 12,306 square feet. One building pairs the motel office with an owner’s residence featuring 3 bedrooms and 4 full bathrooms, along with an inground pool for guests. A second building contains 12 motel rooms, while the third houses four two-bedroom townhouse apartments, each with 1.5 bathrooms. The property was built in 1987 and is zoned R-3.
The ocean lies directly across the street from the property at 136 W Grand Avenue in Old Orchard Beach. The owner’s residence also has potential to generate rental income; each bedroom has its own full bathroom.
The ocean lies directly across the street from the property at 136 W Grand Avenue in Old Orchard Beach. The owner’s residence also has potential to generate rental income; each bedroom has its own full bathroom.
Key Highlights
- 16‑unit motel property across three buildings
- 12,306 SF total building area
- Motel building contains 12 units and 3,970 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$208,319
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,166,380
$4.2M
Cap Rate 7%
$2,975,986
$3.0M
Cap Rate 9%
$2,314,656
$2.3M
Market Conditions
NOI Build-Up for 12,306 SF
Gross rent
$313.1K $25.44/SF
− Vacancy
−$15.5K −$1.26/SF
EGI
$297.6K $24.18/SF
− OpEx
−$89.3K −$7.25/SF
NOI
$208.3K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,166,380
Cap Rate 7%
$2,975,986
Cap Rate 9%
$2,314,656
Alternative Uses
Best Use
Multifamily LT 5
$2.98M
$2.60M – $3.47M
NOI $208,319 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,181 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $273,066 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
389
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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 - Three buildings combine motel rooms, four two-bedroom apartments, an owner’s residence, motel office, and guest swimming pool.
Where is this motel located?
The property is located at 136 W Grand Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 16‑unit motel property across three buildings; 12,306 SF total building area; Motel building contains 12 units and 3,970 SF
