9-Room Bed And
For Sale
$1,695,000
61 Fletcher Street, Kennebunk, ME 04043
COMMERCIAL - Kennebunk, ME
Property Size5,594 SF
Lot Size0.33 Acres
Price / SF$303
Days on Market26
Property Features for 61 Fletcher Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
VR
Rooms
Basement
Parking features
Off Street
Basement
Full
Lot features
Near Shopping
Standard status
Active
Size
5,594 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8399
Utilities
Sewer type
Public Sewer
Heating system
Oil, Pellet Stove, Hot Water(Heating)
Water source
Public
Amenities
fireplaces
common areas
screened porch
outdoor seating
gardens
fire pit
commercial-grade kitchen
Building Details
Year built
1985
Flooring type
Tile, Wood
Building materials
Wood Frame, Shingle Siding
Roof type
Shingle
Listing Agency:
Signature Homes Real Estate Group, LLC
(207) 885-0500
Listed By:
Katherine Az Ashley Lutkoff
(207) 560-1400
Added: Jul 17
Changed: Aug 10
Last Checked: Aug 11 at 5:06PM
MLS# 1668500
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The White Sails Inn is a 5,594-square-foot bed and breakfast with 9 ensuite guest rooms. Built in 1985, the property includes a commercial-grade kitchen, fire suppression and sprinkler systems, three fireplaces, several common areas, a screened porch, outdoor seating, gardens, and a fire pit. Furnishings are included. Construction features wood framing with shingle siding, while interior finishes include tile and wood flooring. Heating is provided by a pellet stove, hot water, and oil systems. The property also includes a basement, off-street parking, a shingle roof, public water, and public sewer.
Located at 61 Fletcher Street in Kennebunk’s downtown area, the inn offers sidewalk access to local restaurants, shops, galleries, and cafés. The beaches of Kennebunk and Kennebunkport are within a short drive. The property is situated in the VR zoning district and occupies 0.33 acres.
Located at 61 Fletcher Street in Kennebunk’s downtown area, the inn offers sidewalk access to local restaurants, shops, galleries, and cafés. The beaches of Kennebunk and Kennebunkport are within a short drive. The property is situated in the VR zoning district and occupies 0.33 acres.
Key Highlights
- 9 ensuite guest rooms within 5,594 square feet
- Commercial‑grade kitchen with fire suppression and sprinkler systems
- Three fireplaces, screened porch, gardens, outdoor seating, and fire pit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,757
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,355,140
$1.4M
Cap Rate 7%
$967,957
$968.0K
Cap Rate 9%
$752,856
$752.9K
Market Conditions
NOI Build-Up for 5,594 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$167.8K $30.00/SF
− Vacancy
−$25.2K −$4.50/SF
EGI
$142.6K $25.50/SF
− OpEx
−$74.9K −$13.39/SF
NOI
$67.8K $12.11/SF
Area
York County, ME
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,355,140
Cap Rate 7%
$967,957
Cap Rate 9%
$752,856
Alternative Uses
Best Use
Hotel Hospitality
$968.0K
$847.0K – $1.13M
NOI $67,757 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,129 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04043, ME
11,536
Population
6,243
Households
1.8
Avg Household Size
52
Median Age
50%
College-Educated
97%
High-School Grad
35.1 sq mi
ZIP Area
329
Density / Sq Mi
$101,204
Median Household Income
$53,283
Median Earnings
$1,405
Median Rent
$460,600
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- The Kennebunk Inn — 45 Main St, Kennebunk, ME 04043
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Operating hospitality property with a commercial kitchen, guest furnishings, parking, and multiple indoor and outdoor gathering spaces.
Where is this bed & breakfast located?
The property is located at 61 Fletcher Street Kennebunk, ME.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 9 ensuite guest rooms within 5,594 square feet; Commercial‑grade kitchen with fire suppression and sprinkler systems; Three fireplaces, screened porch, gardens, outdoor seating, and fire pit
