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The Homeport Inn and Tavern 121 E Main St 13 Room Bed and Breakfast Searsport, ME 04974 $2,295,000 ($176,538/Room) 8.98% Cap Rate

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INVESTMENT HIGHLIGHTS

Fully Renovated
Year round operations

Owner's apartment on premise.

EXECUTIVE SUMMARY

The estate was converted into an Inn and Tavern in the 1960's after being a single-family home for over a century and has been operating as such until current date. However, the property could easily be converted back into a private residence. The estate, listed on the Historic National Register offers 14 bedrooms and 10 full bathrooms with 3 additional half baths sitting on 1.45 acres of manicured gardens and park. In addition is a fully service bar and restaurant licensed for 102 seats indoor and outdoor seats with lice entertainment licenses Currently, The Homeport Inn and Tavern, which underwent a 1M+ renovation in 2022, is a beautifully preserved reminder of the early times in Down East Maine.

PROPERTY FACTS

Price	$2,295,000	Lot Size	2.27 AC
Price Per Room	$176,538	Building Size	16,466 SF
Sale Type	Investment	No. Rooms	13
Cap Rate	8.98%	No. Stories	3
Sale Condition	Business Value Included	Year Built/Renovated	1865/2008
Property Type	Hospitality	Parking Ratio	4.55/1,000 SF
Property Subtype	Bed and Breakfast Hospitality Hotel	Corridor	Interior
Building Class	C
Zoning	R-2

Price	$2,295,000
Price Per Room	$176,538
Sale Type	Investment
Cap Rate	8.98%
Sale Condition	Business Value Included
Property Type	Hospitality
Property Subtype	Bed and Breakfast Hospitality Hotel
Building Class	C
Lot Size	2.27 AC
Building Size	16,466 SF
No. Rooms	13
No. Stories	3
Year Built/Renovated	1865/2008
Parking Ratio	4.55/1,000 SF
Corridor	Interior
Zoning	R-2

Restaurant
High Speed Internet Access

Patio
On-Site Bar

Bed & Breakfast
Public Access Wifi

Fully-Equipped Kitchen
Multi-Room Suites

ABOUT 121 E MAIN ST , SEARSPORT, ME 04974

The mansion stands on a hill east of Penobscot Bay and offers ten comfortably appointed guest rooms, managers office with ensuite full bathroom and a separate owners or managers one bedroom apartment. The Inn also accommodates meetings and function space for private events. The Homeport Inn and Tavern stand as proudly today as they did over 150 years ago, each a reminder of Searsport's rich, seafaring heritage. Built around 1861 by local sea Captain John P. Nichols, he lived there until the 1880s. Located along Penobscot Bay in Searsport, Maine, day trips from the inn to Bar Harbor, Acadia National Park, Belfast, and Camden are ideal. This Italianate style former sea captains' single family home sits on the mid coast / down east border in the historic town of Searsport Maine just a few hundred feet from the harbor.