Listing Agency: CORE

Listed By: Ryan Carey · License #SA923477

Source: Crexi

Added: Apr 11 Changed: Aug 29 Last Checked: Aug 29 at 7:34PM

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Investment Insights

Based on property information with market context.

This 21-unit motel has been repurposed for extended-stay and workforce housing use. The property is located at 429 Somerset Ave in Pittsfield, Maine.

The lodging asset sits off I-95 between Waterville and Bangor, providing a central Maine location for its extended-stay orientation.

Key Highlights

• 21‑unit motel
• Repurposed for extended‑stay and workforce housing use
• Located off I‑95 in central Maine

Property Analytics

Property Profile

Current Use

Pittsfield Motor Inn Hotel & Motel

Suggested Use

Top Pick Building Supply Dental Office HVAC Service Big Box & Wholesale Store Electrical Service Storage Facility

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

123

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 04967, ME

3,908

Population

1,815

Households

2.2

Avg Household Size

42

Median Age

23%

College-Educated

93%

High-School Grad

48.2 sq mi

ZIP Area

81

Density / Sq Mi

$55,822

Median Household Income

$37,572

Median Earnings

$879

Median Rent

$145,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Motel - Repurposed lodging asset serving extended-stay and workforce housing uses.

Where is this motel located?

The property is located at 429 Somerset Ave Pittsfield, ME.

What are key features of this property?

This property features: 21‑unit motel; Repurposed for extended‑stay and workforce housing use; Located off I‑95 in central Maine