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Property profile & analytics
OFF-MARKET
Estimated value
$5,720,000
Motels
393 Mile Rd Wells, ME 04090-4140
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US42-0141197
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1988
Construction
FRAME
Total area
19,921 SF
Lot
0.79 ac (34,376 SF)
Zoning code
BB
APN
WLLS M:122 L:92
UPID
US42-0141197
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
-
Lafayette's Oceanfront Resort Hotel & Motel Resort
-
Wells Beach Motor Inn Hotel & Motel Resort
-
Driftwinds Motel Hotel & Motel
-
Perkins Cove Candies Specialty Food Shop Candy Store
-
One Casino Square Shopping Center Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.71M
Comparable Approach
Comparable
$7.65M
Blend (final)
Blend
$5.72M
Owner & transaction history
Lafayette Wells INC · 1 yrs held
Lafayette Wells INC
since 2025
2 recorded transactions
Zoning & alternative use
BB · 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%
$4,020,000
6.5%
$3,710,000
7%
$3,445,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$6,810,000
Current use
RETAIL STORES
$5,535,000
Change: -19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,525,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$5.72M
Range $5.15M – $6.29M · ±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
$287 / 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
$32,605
Tax year 2023
Assessed value
$5,470,670
Assessed 2023
Previous assessed
$3,682,280
+48.6% YoY
Effective rate
0.60%
On assessed value
Assessed land
$3,262,970
Assessed improvement
$2,207,700
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
1988
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
3
Units
40
Total area
19,921 SF
Lot
0.79 ac (34,376 SF)
Zoning code
BB
APN
WLLS M:122 L:92
UPID
US42-0141197
Jurisdiction
WELLS
Zoning & alternative use
BB · Wells, ME
Zoning BB · permitted uses
BB · 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
$6.8M
RETAIL STORES
Est. value
$5.5M
COMMERCIAL (GENERAL)
Est. value
$5.5M
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
1988
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Units
40
Lot
0.79 ac
Current owner
From public records · entity-resolved
Lafayette Wells INC
Entity
Mailing address
PO BOX 639, WELLS, ME 04090-0639
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2025
—
Lafayette Wells INC
—
Deed
related
$5,000,000 · Bangor Savings Bank
Mar 30, 2018
—
Lafayette Wells INC
—
Deed
related
$11,000,000 · Bangor Savings Bank
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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