Building Details

Building Size 15,000 SF

Year Built 1940

Stories 3

Listing Agency: Compass Real Estate m***@compass.com Show Phone

Listed By: Scott Rome Show Phone

Source: Amerorealty

Added: Nov 19, 2021 Changed: Oct 22 Last Checked: Oct 22 at 2:27PM

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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 Compass Real Estate

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The Betty Doon Motor Hotel is a 24-room lodging property with three commercial units fronting Beach Street. The business remains in operation and is closed during the winter season. Built in 1940, the property is situated on a 0.75-acre lot and contains 15,000 square feet.

Located in downtown Ogunquit, the property is within walking distance of the village and one-quarter mile from the beach. Its zoning is Downtown Business.

Key Highlights

• 24‑room motor hotel with three commercial units along Beach Street
• 15,000 square feet on a 0.75‑acre lot
• Operating property that closes for the winter season

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$186,300

Cap Rate

4.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,726,000 $3.7M

Cap Rate 7%

$2,661,429 $2.7M

Cap Rate 9%

$2,070,000 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,000 SF

Gross rent

$324.0K $21.60/SF

− Vacancy

−$25.9K −$1.73/SF

EGI

$298.1K $19.87/SF

− OpEx

−$111.8K −$7.45/SF

NOI

$186.3K $12.42/SF

Area

York County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,726,000

Cap Rate 7%

$2,661,429

Cap Rate 9%

$2,070,000

Alternative Uses

Best Use

Mixed Use

$2.66M

$2.33M – $3.11M (±1% cap)

NOI $186,300 @ 7.0% cap · market cap 4.14%

Second Best

Hotel Hospitality

$2.60M

$2.27M – $3.03M (±1% cap)

NOI $181,688 @ 7.0% cap · market cap 4.04%

Theoretical Best

Office A

$4.75M

$4.16M – $5.55M (±1% cap)

NOI $332,845 @ 7.0% cap · market cap 7.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Motels

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Auto Repair Shop Catering Service Kitchen & Bath Showroom Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

118

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 03907, ME

1,577

Population

2,106

Households

0.7

Avg Household Size

62

Median Age

68%

College-Educated

99%

High-School Grad

4.1 sq mi

ZIP Area

385

Density / Sq Mi

$104,250

Median Household Income

$72,778

Median Earnings

$1,736

Median Rent

$799,200

Median Home Value

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Frequently Asked Questions

What type of property is this?

Motel - Operating lodging property with three additional commercial units along Beach Street.

Where is this motel located?

The property is located at 13 Beach Street Ogunquit, ME.

What is the asking price?

The asking price for this property is $4,500,000.

What are key features of this property?

This property features: 24‑room motor hotel with three commercial units along Beach Street; 15,000 square feet on a 0.75‑acre lot; Operating property that closes for the winter season