1963 Medway Rd Medway, ME 04460
- Commercial real estate
- 20,000 SF
- 5.63 lot acres
Current Use by Public Records
- Gateway Inn / Motel / Hotel
Property Details for 1963 Medway Rd
- Year built
- 1995
- Lot size
- 5.63 lot acres
- Property size
- 20,000 SF
- Property type
- Commercial real estate
Description
Exceptional investment opportunity: a well-established 38-room hotel in Medway, ME, ideally situated near Baxter State Park and the Appalachian Trail. Built in 1995, this 20,000 square foot property sits on a 5.63-acre lot and offers a diverse range of accommodations, including single rooms, two-bedroom suites, and efficiency apartments catering to various guest needs and lengths of stay. A versatile 60' x 80' attached building provides ample storage, potentially ideal for recreational equipment like ATVs or snowmobiles. The hotel also features a conference room successfully utilized for business meetings, reunions, and even weddings, showcasing its adaptability and potential for diverse revenue streams. Its convenient location directly connected to the ITS trail system capitalizes on the significant tourism generated by Baxter State Park, attracting over 60,000 visitors annually. The property's proximity to the park and the Appalachian Trail has proven highly attractive to hikers, with the current owners hosting hundreds of guests utilizing the park as a starting or ending point for their journeys. The abundance of lakes and rivers in the surrounding area further enhances the property's appeal to outdoor enthusiasts, presenting a compelling opportunity for continued success and growth in a thriving tourism market. Priced at $2,250,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Medway
- County
- Penobscot
- State
- Maine
- Longitude
- -68.52903
- Latitude
- 45.61214
