Boutique Inn with Ensuite
For Sale
$1,695,000
61 Fletcher Street, Kennebunk, ME 04043
Turnkey boutique inn with 9 ensuite guest rooms, commercial kitchen, sprinkler systems, and furnishings for immediate hospitality operations.
Property Size9,645 SF
Price / SF$175.74
Days on Market77
Property Features for 61 Fletcher Street
General Information
Standard status
Active
Size
9,645 SF
Property subtype
General Commercial
Zoning
Village Residential
Additional Details
Furnished
Yes
Business Included
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$8,399
Amenities
commercial-grade kitchen
fireplaces
common areas
screened porch
outdoor seating
gardens
fire pit
3
Parking.
Off Street.
0.33
Building Details
Year Built
1985
Listing Agency:
Signature Homes Real Estate Group, LLC
(207) 885-0500
Listed By:
Katherine Az Ashley Lutkoff
(207) 560-1400
Source:
Xome
Added: Jun 21
Changed: Sep 4
Last Checked: Sep 5 at 4:18AM
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 Signature Homes Real Estate Group, LLC
Investment Insights
Based on property information with market context.
The White Sails Inn is a fully operational boutique hospitality property offering 9 ensuite guest rooms in 5,594 square feet. The building includes three fireplaces, multiple common areas, and a screened porch, along with outdoor seating, gardens, and a fire pit designed to support the guest experience. All furnishings are included with the property.
The inn also features a commercial-grade kitchen, fire suppression and sprinkler systems, and off-street parking spaces.
Located in the Village Residential zone in downtown Kennebunk, the property is steps from restaurants, shops, galleries, and cafés, with sidewalk access to downtown amenities. Beaches in Kennebunk and Kennebunkport are within a short drive.
The inn also features a commercial-grade kitchen, fire suppression and sprinkler systems, and off-street parking spaces.
Located in the Village Residential zone in downtown Kennebunk, the property is steps from restaurants, shops, galleries, and cafés, with sidewalk access to downtown amenities. Beaches in Kennebunk and Kennebunkport are within a short drive.
Key Highlights
- Established boutique inn with 9 ensuite guest rooms in 5,594 SF
- All furnishings included for immediate hospitality operations
- Commercial‑grade kitchen plus fire suppression and sprinkler systems
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
$116,825
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
6.89%
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%
$2,336,500
$2.3M
Cap Rate 7%
$1,668,929
$1.7M
Cap Rate 9%
$1,298,056
$1.3M
Market Conditions
NOI Build-Up for 9,645 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
$289.4K $30.00/SF
− Vacancy
−$43.4K −$4.50/SF
EGI
$245.9K $25.50/SF
− OpEx
−$129.1K −$13.39/SF
NOI
$116.8K $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%
$2,336,500
Cap Rate 7%
$1,668,929
Cap Rate 9%
$1,298,056
Alternative Uses
Best Use
Hotel Hospitality
$1.67M
$1.46M – $1.95M
NOI $116,825 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,019 @ 7.0% cap · market cap 12.63%
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
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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Frequently Asked Questions
What type of property is this?
Hotel - Turnkey boutique inn with 9 ensuite guest rooms, commercial kitchen, sprinkler systems, and furnishings for immediate hospitality operations.
Where is this hotel 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: Established boutique inn with 9 ensuite guest rooms in 5,594 SF; All furnishings included for immediate hospitality operations; Commercial‑grade kitchen plus fire suppression and sprinkler systems
