15 Locke St Kennebunkport, ME 04046-5807
- Hotels
- 5,700 SF
- 0.73 lot acres
Current Use by Public Records
- 1802 House Bed and Breakfast / Bed & Breakfast / Hotel
Property Details for 15 Locke St
- Year built
- 1802
- Lot size
- 0.73 lot acres
- Property size
- 5,700 SF
- Zone code
- VR
- Property type
- Hotels
- APN
- KENP M:12 B:1 L:3
- APU
- KENPM12B1L3
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,445,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,945,000
- 6.5%
- $1,750,000
- 7%
- $2,010,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,710,000
- Geo Method
- $1,895,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,830,000
- Retail
- $1,965,000
- Mixed-Use
- $1,725,000
- Hospitality
- $1,770,000
- Educational
- $1,950,000
- Residential Income
- $1,885,000
- Energy
- $1,950,000
- Income-Based Land
- $1,950,000
- Food Service
- $1,895,000
Location Insight
- Map
- Local Demand
- City
- Kennebunkport
- County
- York
- State
- Maine
- Longitude
- -70.4771
- Latitude
- 43.3682
- CBSA code
- 38860
- CBSA name
- PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA
