Seasonal Motel with
2041 Harpswell Islands Road, Harpswell, ME 04079
For Sale
$1,775,000
A 19-key lodging property includes an on-site mercantile and private manager’s quarters.
Property Size18,587 SF
Lot Size3.50 Acres
Price / SF$95.50
Days on Market57
Property Features for 2041 Harpswell Islands Road
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Business Included
Mixed-Use Components
Currently Operating
Taxes and HOA fees
Annual Taxes
Amenities
freshwater swimming pool
outdoor gathering spaces with dining and grilling areas
Building Details
Building Size
Year Built
Year Renovated
Listing Agency:
Daigle Commercial Group, Inc.
Listed By:
Roger Daigle · License #DB208870
(207) 773-4222
Source:
Oceanviewproperties
Added: Sep 12
Changed: Nov 7
Last Checked: Nov 7 at 5:18PM
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 Daigle Commercial Group, Inc.
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Investment Insights
Based on property information with market context.
Bailey Island Motel is a seasonal lodging property with 19 guest keys on approximately 3.5 acres in Harpswell. The site also includes an outdoor swimming pool, gathering and dining areas, grilling space, and the Bailey Island Mercantile. Private on-site quarters provide three bedrooms and two bathrooms for owners or managers.
Renovations completed in 2022 covered guest rooms and kitchenettes, with additional work to furnishings, electrical systems, heating, and cooling. The property is on Harpswell Islands Road on Bailey Island, just beyond the Cribstone Bridge, with local restaurants, shops, and recreation accessible nearby.
Renovations completed in 2022 covered guest rooms and kitchenettes, with additional work to furnishings, electrical systems, heating, and cooling. The property is on Harpswell Islands Road on Bailey Island, just beyond the Cribstone Bridge, with local restaurants, shops, and recreation accessible nearby.
Key Highlights
- 19‑key seasonal motel on approximately 3.5 acres
- Guest accommodations and kitchenettes renovated in 2022
- Outdoor freshwater swimming pool and gathering areas with dining and grilling space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,081
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,701,620
$2.7M
Cap Rate 7%
$1,929,729
$1.9M
Cap Rate 9%
$1,500,900
$1.5M
Market Conditions
NOI Build-Up for 18,587 SF
Gross rent
$334.6K $18.00/SF
− Vacancy
−$50.2K −$2.70/SF
EGI
$284.4K $15.30/SF
− OpEx
−$149.3K −$8.03/SF
NOI
$135.1K $7.27/SF
Area
Cumberland County, ME
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,701,620
Cap Rate 7%
$1,929,729
Cap Rate 9%
$1,500,900
Alternative Uses
Best Use
Mixed Use
$3.30M
$2.89M – $3.85M
NOI $230,851 @ 7.0% cap · market cap 13.01%
Second Best
Hotel Hospitality
$1.93M
$1.69M – $2.25M
NOI $135,081 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$5.11M
$4.47M – $5.96M
NOI $357,606 @ 7.0% cap · market cap 20.15%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04079, ME
4,089
Population
3,225
Households
1.3
Avg Household Size
58
Median Age
55%
College-Educated
96%
High-School Grad
21.3 sq mi
ZIP Area
192
Density / Sq Mi
$87,866
Median Household Income
$50,197
Median Earnings
$1,309
Median Rent
$565,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Motel - A 19-key lodging property includes an on-site mercantile and private manager’s quarters.
Where is this motel located?
The property is located at 2041 Harpswell Islands Road Harpswell, ME.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: 19‑key seasonal motel on approximately 3.5 acres; Guest accommodations and kitchenettes renovated in 2022; Outdoor freshwater swimming pool and gathering areas with dining and grilling space
