Motel, Restaurant, Gift Shop in Aroostook County, Maine

Price: $1,500,000

Location: Aroostook County, Maine

Industry: Travel

Listing ID: CM82123

This successful restaurant & motel has been in business since 1993 and is thriving!

It is located 30 seconds of a major Interstate highway and so has incredibly easy access for both locals and tourists.

The restaurant features 30 seats in the main dining area and an additional 90 in the back dining room, which can be used for both regular dining and with the moveable partitions, can be set up for meetings and other functions.

There is also an off-site bakery shop where baked goods from the restaurant are sold.

The motel has 9 units that have been nicely renovated and have a consistently high occupancy.

There is also an owner’s suite that features 4 beds and 3 baths.

Financials
Asking Price: $1,500,000
Gross Revenue: $1,413,000
Cash Flow: $552,345
FF&E: $80,000 +/- (included in the sale price)
Inventory: $50,000+/- (included in the sale price)
Real Estate: $1,000,000 (estimated – not included in the sale price. Might be available. Incidental to the sale of the business. Subject to commercial appraisal.)
Year Established: 1993
Employees: 9 FT, 14 PT (including seller)
Payroll: $ 32,000 / month

Opportunities for growth: Add catering and event hosting.

Listing Details

Down Payment: $150,000

Gross Revenue: $1,413,000

Cash Flow: $552,345

EBITDA: $552,435

FFE: $80,000 (Included in Price)

Inventory: $50,000 (Included in Price)

Real Estate: $1,000,000

Terms and Conditions?:

Incidental to the sale of the business. Seller estimates the value at $1M. Subject to commercial appraisal.

Reason For Sale:

Owner is seeking retirement

Operation

Year Established: 1993

Employees: 9 FT / 14 PT (including the seller)