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Property profile & analytics
OFF-MARKET
Estimated value
$8,360,000
Motels
28 Mile Rd Wells, ME 04090-4127
Entity Owned
8-yr Hold
Property ID
US42-0500968
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
2020
Construction
STEEL FRAME
Total area
38,083 SF
Lot
3.01 ac (131,116 SF)
Zoning code
GB
APN
WLLS M:123 L:86
UPID
US42-0500968
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
-
Holiday Inn Express Wells-Ogunquit-Kennebunk, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.10M
Comparable Approach
Comparable
$10.24M
Blend (final)
Blend
$8.36M
Owner & transaction history
Redwood Resorts Wells LLC · 8 yrs held
Redwood Resorts Wells LLC
since 2017
4 recorded transactions
Zoning & alternative use
GB · Wells, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wells submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wells submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$7,690,000
6.5%
$7,095,000
7%
$6,590,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$13,015,000
Current use
RETAIL STORES
$10,580,000
Change: -19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,560,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$8.36M
Range $7.52M – $9.20M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$220 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$43,626
Tax year 2023
Assessed value
$7,319,780
Assessed 2023
Previous assessed
$5,919,420
+23.7% YoY
Effective rate
0.60%
On assessed value
Assessed land
$1,308,700
Assessed improvement
$6,011,080
Applied tax rate
81,475.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
60
Bathrooms
1
Total area
38,083 SF
Lot
3.01 ac (131,116 SF)
Zoning code
GB
APN
WLLS M:123 L:86
UPID
US42-0500968
Jurisdiction
WELLS
Zoning & alternative use
GB · Wells, ME
Zoning GB · permitted uses
GB · Wells, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wells. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$13.0M
RETAIL STORES
Est. value
$10.6M
COMMERCIAL (GENERAL)
Est. value
$10.6M
HOTEL/MOTEL Current
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2020
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
60
Bathrooms
1
Lot
3.01 ac
Current owner
From public records · entity-resolved
Redwood Resorts Wells LLC
Entity
Mailing address
PO BOX 836, OGUNQUIT, ME 03907-0836
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2019
—
Redwood Resorts Wells LLC
—
Deed
related
$6,896,000 · 1st National Bank
Sep 14, 2017
—
Redwood Resorts Wells LLC
Legacy Partners 3 LLC
Quit Claim Arm's Length For Ne States
$705,000 · Machias Savings Bk
Oct 30, 2015
—
Legacy Partners 3 LLC
Francis C Hludki JR
Quit Claim Arm's Length For Ne States
$780,000 · Sanford Instit Sgvs
Sep 11, 2012
—
William E Hludik
Hludik,florence C
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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