Six-Cabin Resort
300 Wapiti Road, Patten, ME 04765
For Sale
$755,000
The lodge and cabins accommodate groups of up to 25, with shared dining and recreation spaces.
Property Size7,397 SF
Price / SF$102.07
Days on Market592
Property Features for 300 Wapiti Road
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Amenities
stone fireplace
commercial kitchen
staff residence
in-ground pool
gazebo with fire pit
recreational hall
three-bay garage/barn
Building Details
Building Size
Year Built
Listing Agency:
Midcoast Realty Group
(207) 707-5200
Listed By:
Penney Read · License ME BR923014
(207) 701-1230
Source:
Integrityhomesrealestategroup
Added: Apr 1, 2025
Changed: Nov 11
Last Checked: Nov 13 at 6:33PM
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 Midcoast Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This resort property on Davis Pond comprises six cabins and a main lodge, with overnight capacity for 20–25 people. The lodge includes a dining room with a stone fireplace, a commercial kitchen, and staff quarters upstairs. Additional improvements include a three-bay garage/barn, an in-ground pool, a gazebo with fire pit, and a separate recreation hall. The buildings require upgrades and repairs; the cabins also need connection to the existing septic system.
The property is the only developed site on the pond and offers views toward Mount Katahdin. Davis Pond supports swimming and boating, while the surrounding area offers hiking, snowmobiling, and hunting. Hunting permits can convey.
The property is the only developed site on the pond and offers views toward Mount Katahdin. Davis Pond supports swimming and boating, while the surrounding area offers hiking, snowmobiling, and hunting. Hunting permits can convey.
Key Highlights
- Six cabins and a main lodge with capacity for 20–25 people
- Commercial kitchen, dining room, and upstairs staff residence in the lodge
- Three‑bay garage/barn, in‑ground pool, gazebo with fire pit, and recreation hall
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,524
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$890,480
$890.5K
Cap Rate 7%
$636,057
$636.1K
Cap Rate 9%
$494,711
$494.7K
Market Conditions
NOI Build-Up for 7,397 SF
Gross rent
$106.5K $14.40/SF
− Vacancy
−$12.8K −$1.73/SF
EGI
$93.7K $12.67/SF
− OpEx
−$49.2K −$6.65/SF
NOI
$44.5K $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 Rate 5%
$890,480
Cap Rate 7%
$636,057
Cap Rate 9%
$494,711
Alternative Uses
Best Use
Hotel Hospitality
$636.1K
$556.6K – $742.1K
NOI $44,524 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,231 @ 7.0% cap · market cap 22.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 04765, ME
1,122
Population
1,073
Households
1
Avg Household Size
52
Median Age
25%
College-Educated
90%
High-School Grad
750.6 sq mi
ZIP Area
1
Density / Sq Mi
$47,269
Median Household Income
$33,631
Median Earnings
$347
Median Rent
$120,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Resort - The lodge and cabins accommodate groups of up to 25, with shared dining and recreation spaces.
Where is this resort located?
The property is located at 300 Wapiti Road Patten, ME.
What is the asking price?
The asking price for this property is $755,000.
What are key features of this property?
This property features: Six cabins and a main lodge with capacity for 20–25 people; Commercial kitchen, dining room, and upstairs staff residence in the lodge; Three‑bay garage/barn, in‑ground pool, gazebo with fire pit, and recreation hall
