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Captain Nickels Inn 127 E Main St

10 Room Hotel Searsport, ME 04974 $3,295,000 ($329,500/Room)

Investment Highlights

  • Prime location; 275 feet of waterfrontage on The Penobscot Bay; 6 acres perfect for expansion;
  • wonderful wedding or events venue.
  • TURNKEY, financially

Executive Summary

Prime location; 275 feet of waterfrontage on The Penobscot Bay; 6 acres perfect for expansion; wonderful wedding or events venue. TURNKEY, financially viable.

Property Facts

Price $3,295,000
Price Per Room $329,500
Sale Type Investment or Owner User
Sale Conditions Business Value Included
Property Type Hospitality
Property Subtype Hotel
Building Class B
Lot Size 6.01 AC
Building Size 10,000 SF
No. Rooms 10
No. Stories 3
Year Built/Renovated 1874/2021
Parking Ratio 1.5/1,000 SF
Corridor Interior

Amenities

  • High Speed Internet Access
  • Patio
  • Meeting Event Space
  • Wedding Venue
  • Public Access Wifi
  • Smoke-Free

About 127 E Main St , Searsport, ME 04974

Built in 1874 and listed on the National Register of Historic Places, the inn is named after its first owner, Captain Albert V. Nickels, who resided here with his wife Elizabeth and their eight children. The inn offers an elegant and exceptional retreat with 180-degree views of Penobscot Bay in the charming town of Searsport, just a few nautical miles between Camden and Bar Harbor. The inn has the distinction of being part of the East Main Street Historic District, a collection of five properties with Italianate architectural influences, all built by ship captains over a span of 15 years beginning in 1860. The inn underwent an extensive restoration in 2019 and continued through 2023, from floors to walls to bathrooms, decks, mechanical systems and furnishings. The landscaping and lawn also underwent extensive renovation. Captain Nickels Inn is the perfect historic backdrop, whether you celebrate at their ocean’s edge, in the gardens, or in an intimate space in the inn. The Elopement Packages are the answer to a stress-free and intimate celebration. But the beautiful, newly renovated grand ballroom is perfect for larger events. Captain Nickels Inn welcomes guests year round. The ballroom was renovated with weddings and special events in mind. In 2023, the seller has chosen to hold only small elopements. In previous years there were a few larger weddings accompanied by a sizeable venue fee in keeping with that business model. With some targeted marketing, particularly in the wedding magazines, a new owner could choose to focus on weekend weddings and weekday tourism in high season. There is also a movement toward smaller or more affordable Sunday/Monday weddings that a new owner could opt for, providing for a Friday/Saturday wedding and Sunday/Monday wedding. The inn could host off season and winter wonderland weddings utilizing the beautiful ballroom space. Captain Nickels Inn has very favorable average daily rates and occupancy rates. They have grown their ADR substantially during the renovation and have now positioned the inn for a new owner to take the business in this stunning Grande Dame to the next level. Maine’s mid-coast evokes an explorer spirit with dramatic coastlines soothed by the Atlantic Ocean. Majestic schooners and lighthouses beckon adventure. Coastal islands and peninsulas like fingers reach out begging to be explored. Located on the granite shores of Searsport, Captain Nickels Inn welcomes guests in seaside elegance. Sprawling six-acres leads to a private waterfront with 180-degree views of Penobscot Bay. Stroll down to the bay and relax in Adirondack chairs for panoramic views. Go treasure hunting for sea glass down on the rocky shore. Request a boxed lunch or charcuterie and enjoy picnic style perched on the cliff at sunset. Play horseshoes, croquet, or Bocce ball with the Atlantic as your backdrop. Guests are invited to bring canoes and kayaks to take advantage of their beach access. Getting out on the water provides a whole new perspective of the area. Guests can book one of their sailing packages to experience Maine the way it’s supposed to be experienced – from the sea! Cruise Penobscot Bay with a bottle of wine aboard the Cutter Owl or Schooner Olad. There are ten spacious guest rooms (3 are suites) with private baths, 9 of which are en-suite. And stunning bathroom renovations they are! The decor is a lovely mix of period touches, modern comfort with luxury bathrooms. Two of the suites have private decks with fire pits and a beautiful ocean view, and a view of the lush grounds and manicured gardens. The Captain’s Suite is a very large suite with private access to the cupola! When the seller purchased, there were 8 guest rooms. Now there are 4 king and 6 queen rooms. The private space here at Captain Nickels is comprised of the inn’s kitchen and a large office off the kitchen with a private entrance off the parking lot. On the third floor is a beautifully appointed owner’s suite, with heat pump AC, large bedroom/living room, walk-in closet, newly renovated bathroom with vanity, beautiful decorative tile and glass shower and a fantastic decorative floor. The suite features a row of windows overlooking the gardens as well as looking toward the water. There’s also a small office/multipurpose space just outside the quarters. Built in 1874; Victorian/Italianate with beautiful panel molding, new and original historic features throughout Total square footage: 10,000+ Lot size: 6.01 acres, well landscaped, mature trees, perennials, most of it open and level Waterfront – approximately 275 feet of frontage Book 4375 page 113 and Book 4552 Page 250, Waldo County Registry of Deeds Map 1 Lots 1 and 1B Zoning: Residential 4 2022-23 real estate taxes: $16,835.39 (both lots) 10 guest rooms/suites, all with private baths (9 en-suite ) Spacious guest porch in front and very large deck facing the ocean, all surrounded by mature landscaping and perennial gardens 1 propane fireplace, 1 propane stove, and 6 electric fireplaces Inn’s kitchen has granite counters, electric Whirlpool range, Bosch dishwasher, Whirlpool refrigerator Catering kitchen adjacent to the inn’s kitchen has a Sunfire gas range, Hobart dishwashing system, Blueair ice machine, Samsung and Arctic Air refrigerators Tavern: Beer Cooler, Draft Cooler, 7. beer taps Utilities: propane, oil, public water & sewer (2 oil tanks, 1 propane) AC- heat pumps (15) and window A/C units (6 in various areas) Heat: hot water baseboard, radiator, steam, and heat pumps Clapboard siding Roof: slate, asphalt shingle and rubber Onsite gravel parking lot for ~15 cars Basement: unfinished , concrete floor, and a large laundry facility (6 sets each of washers and dryers!) extra refrigeration (2 fridge, 1 freezer), plenty of storage; bulkhead and interior access Carriage House. basement is under the tavern and is a very large workshop with storage

Room Mix Information

Description No. Rooms Daily Rate SF
Suite 2 $680.00 -
Guest Room 8 $345.00 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
SEAP-000011-000000-000001B
Land Assessment
$203,100
Improvements Assessment
$431,000
Total Assessment
$634,100

zoning

Zoning Code Residential 4 (Residential 4)
Residential 4 (Residential 4)
  • Listing ID: 29163133

  • Date on Market: 8/2/2023

  • Last Updated:

  • Address: 127 E Main St, Searsport, ME 04974

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