Situated on 5.5 acres along highly traveled Route 27 (the gateway to Boothbay Harbor), the former White Anchor Inn is a value-add opportunity consisting of two seasonal motel buildings with a total of 18 units, a year-round 5-unit apartment building, and a 3-bedroom home. Currently operating as staff housing from May-October, the front motel building offers 6 units (with an additional 6 units behind that could be renovated and used for additional income), and the back motel building has 12 units and a coin-op laundry room.
The apartment building features 2 units on the ground floor; newly renovated office space, conference room, and front office on the first floor; and 3 units on the second floor. The office space and conference room could continue to operate as such, or be converted into additional apartments to maximize revenue.
The residence is made up of three bedrooms, two bathrooms, a spacious kitchen, living room, and breezeway connecting it to the front office. With a mix of rental units, the property is ideal for an investor looking to maximize revenue and limit risk of vacancy by offering short-term, mid-term (30-180 days), and long-term rentals. Nearby to many of the area’s attractions, the location and acreage provide potential for further development.
An added bonus, the seller has recently utilized the motel and several apartments for staff housing, and would like a right of first refusal to continue to rent those units seasonally.
