Maple Hill Farm Inn and Conference Center 11 Inn Rd 8 Room Bed and Breakfast Hallowell, ME 04347 $4,195,000 ($524,375/Room) 14.10% Cap Rate

OVERVIEW:
Well-established and highly successful boutique inn with eight guest rooms plus a full service conference, event, and wedding facility for 150+ guests with multiple venues, complete with on-site custom catering and full bar service. Centrally located to serve the entire state of Maine and beyond with several buildings on 31+ acres of rolling countryside that provides for expansion opportunities, although the current cash flow supports the listing price. Bonuses include the two-story barn which has been well-maintained and is ready to be repurposed as additional event space or another use; a 2-3 bedroom spacious owner’s or manager’s quarters that is separate from the inn, but just across the driveway (and connected by a porte cochere); a stellar reputation for being a leader in sustainability with solar electric, solar hot water, wind turbine; fully equipped turnkey operation; tent to expand the largest (1800 s.f.) event space by attaching directly to the building; large four-bay heated garage/workshop; 84-car paved and well-it parking lot with four EV charging stations; custom-built cedar sauna and a large outdoor hot tub; and much more. Current ownership for the past 33 years is seeking retirement. Adjacent 18+/- acres with a spacious 1-bedroom house and storage barn also available.
MORE DETAIL:
This serene country location is only four miles from the interstate and five miles to the Maine State Capitol building in Augusta, Maine. The rolling fields and woods provide a bucolic environment for this profitable inn and busy conference and event center. The physical infrastructure has been well maintained, and a significant commitment to sustainability is evident. The owners are offering the property turnkey as they head to retirement after 33 happy years of innkeeping and hosting events.
The 31 acre property contains expansive buildings dating from the original Victorian gambrel farmhouse built in 1906, with numerous additions and many improvements, with the attached commercial kitchen, laundry, and large Gathering Place event facility with soaring ceiling and innovative lighting built in 2003-2004. There is ample paved and lit parking and an area of overflow grassed parking for the largest of events.
There are eight guest rooms in the main building, each with private baths, and some with HUGE double whirlpool tubs, private decks, and fireplaces. A large sauna and outdoor hot tub, along with comfortable outdoor seating in rocking chairs on the front porch, Adirondack chairs and picnic tables under the 120-year-old sugar maple trees in the front yard, or at small tables on the outdoor bricked patio provide ample spaces for the guests to relax. The main building also includes a small Pub, Living Room with fireplace, Dining Room with fireplace, office and lobby area with a dramatic granite front desk counter, and the Gallery featuring works of local artists for sale.
In addition to the Gallery, the Carriage House (connected to the main inn by a porte cochere) and the much larger Gathering Place are venues that host business and social events throughout the year. The Gathering Place can be expanded seasonally with a large tent to accommodate even larger groups. Event spaces include a variety of tables and chairs for different room setups
The 31 acres of land would easily allow for further expansion of lodging or event facilities. The large two-story barn on the property, while currently used to house llamas and chickens (fresh eggs for breakfast!) as well as a workshop area, could be converted into an additional wedding or event venue, or perhaps more lodging. There is also the possibility of leasing a portion of the land for a solar farm that could potentially generate around $40,000 a year in additional income.
{Please note that there is an additional 18 acre abutting parcel with a spacious one-bedroom home, pole barn, and shed available for $299,000.}
Maple Hill Farm is a unique combination of a small country inn and a large full-service event center. This diversity allows for healthy revenue on a year-round basis and the ability to hire employees, including a full-time handyman to maintain the property.
The inn's strong lodging business is supported by both business and leisure travelers, and this is the only boutique lodging alternative to the many hotels in Augusta. The meetings and event business consists of more than 200 hosted events that are held every year in the various on-site venues, and custom catering is provided by in-house facilities and beverage services provided from three bar setups. There is a broad base of event clients, from weddings, baby and bridal showers, memorial services, business meetings, non-profit and association conferences, and many other social and meeting events.
A strong commitment to sustainability has been undertaken by the present owners. Guests are greeted by the very visible wind turbine on top of the hill and a large solar electric and hot water array on top of the Gathering Place. There are four electric vehicle charging stations, 100% LED lighting throughout the entire facility, and even a wood pellet boiler which burns sustainably-produced Maine wood pellets. And smaller touches like the use of shower dispensers rather than individual bottled amenities, and the use of Maine-roasted coffee and locally-produced real maple syrup with the farm’s own eggs for breakfast.