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Property profile & analytics
OFF-MARKET Estimated value $1,875,000
Hotels

15 Locke St Kennebunkport, ME 04046-5807

5,700 SF 0.73 ac lot Built 1802
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US42-0001841
Property summary
AI-generated overview

Exceptional opportunity to acquire a thriving 6-unit bed and breakfast inn in desirable Kennebunkport, Maine. This 9,071 square foot property sits on a 0.73-acre lot, boasting a prime location just half a mile from Dock Square, a central hub for tourism. The inn is in excellent, turnkey condition, renowned for its exceptional service and accommodations. The property includes a luxurious owner's quarters featuring four bedrooms, three bathrooms, ample storage, and two offices. All six guest rooms are fully furnished and equipped, with all supplies, software, and business-related items included in the sale, ensuring a seamless transition for the new owner. Five of the six guest rooms offer gas fireplaces, and two include jacuzzi tubs. All guest rooms have ensuite bathrooms. Recent upgrades include new mini-splits for heating and cooling, a brand-new roof, a whole-house generator, newly insulated attic, new carpeting, and several newly tiled bathrooms. The property offers 14 parking spaces, a large yard, and beautiful gardens. Its proximity to the Arundel Golf Course provides spectacular views. The inn benefits from a long season, operating from May through October, with additional events like "Paint the Town Red" in February and Christmas festivities. Located just 35 minutes from Portland, 30 minutes from Portsmouth, NH, and 1.5 hours from Boston, MA, this property offers unparalleled access to major metropolitan areas. The property's zoning may allow for conversion into a two-family multi-unit dwelling or even condominiums, presenting significant future development potential.

Property profile
Verified
Property type Hotels
Use group HOTEL-RESORT
Year built 1802
Total area 5,700 SF
Lot 0.73 ac (31,800 SF)
Zoning code VR
APN KENP M:12 B:1 L:3
UPID US42-0001841
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • 1802 House Bed and Breakfast Bed & Breakfast Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.39M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.42M
Blend (final) Blend
$1.88M
Owner & transaction history
Shine Hldg LLC · 3 yrs held
Shine Hldg LLC
since 2022
Last sale
$1.9M
4 recorded transactions
2022
$1.9M
2019
Price N/A
2012
$1.1M
2007
Price N/A
Zoning & alternative use
VR · Kennebunkport, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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