277 Long Bch Ave York, ME 03909-6381
- Commercial real estate
- 6,696 SF
- 2.00 lot acres
Aug 04, 2021
Current Use by Public Records
- Commercial real estate
Property Details for 277 Long Bch Ave
- Lot size
- 2.00 lot acres
- Property size
- 6,696 SF
- Zone code
- R7
- Property type
- Commercial real estate
- APN
- YORK M:0036 B:0082
- APU
- YORKM0036B0082
Description
This exceptional investment opportunity presents the Sea Latch Inn, an 82-key hotel complex situated on a 2+ acre lot in York Beach, Maine. The property boasts 160+ feet of frontage on both Long Beach Avenue and Eastern Avenue, offering excellent visibility and accessibility. Just 3.5 miles from the Maine Turnpike and 1.4 miles from York Village and York Harbor, this location provides convenient access to major transportation routes and local amenities. The complex comprises thirteen buildings, including a three-story, 36-room interior corridor building with an elevator, a two-story, 26-room exterior corridor building, and several smaller buildings and six detached cottages, totaling 90 rooms. The 34,654+/- square foot complex features a variety of room sizes, ranging from 338+/- square feet to 754+/- square feet. Built in 1960 with significant renovations in 2014 (Building A), the property includes ample parking, a swimming pool, and landscaping. The buildings are constructed with wood frames, poured concrete slabs, and vinyl siding. Interior features include a mix of flooring (carpet, tile, and wood), drywall and acoustical tile ceilings, and electric heat/AC splits. The property is zoned Residential-7, allowing for a variety of uses including hotels, motels, and restaurants. It's located in Flood Zone AE (EL-13), per FEMA Map 23031C0686G, effective July 17, 2024. Public water and sewer are available, along with electric, cable, and telephone utilities. The property includes security features, both interior and exterior. This property offers significant potential for a savvy investor seeking a well-established hospitality business in a highly desirable coastal location. The property is being sold as-is, including all personal property, food service equipment, furnishings, and electronics.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,385,000
- 6.5%
- $1,280,000
- 7%
- $1,190,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,625,000
Market price range: $464k - $1.63M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,855,000 Current use
- RETAIL STORES
- $1,860,000 Change: +0% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- York
- County
- York
- State
- Maine
- Longitude
- -70.6235
- Latitude
- 43.1576
- CBSA code
- 38860
- CBSA name
- PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA