Though the tourism business still flourishes in Maine, there are bed and breakfast owners who wish, for various reasons, to sell their establishments. There are bed and breakfast inns available for sale throughout the state of Maine. They include an all season 1790, Greek Revival-style home with five bedrooms on .90 acres for $725,000; an 1850, three bedroom inn on 4 acres for $229,000; a 1972, five bedroom inn on 1.25 acres for $549,000; a 1928, 17 bedroom lodge on 1.77 acres for $1,650,000, and an 1810, sea captains home with 9 guest rooms for $995,000. An 18-room inn in a small picturesque mountain village with an annual turnover of $1.3 million is offered for $2.2 million. The list changes as transactions are concluded and new offers are posted. Most buildings have owners quarters either attached to the main building or separate in the same compound. The properties can be categorized as fully developed facilities with established client bases and marketing arrangements. Most places have potential for further expansion, and were closed for one reason or another. They include residential homes that can be converted into a bed and breakfast inn, and vacant plots where new facilities can be built. Many have surrounding woods, landscaped areas or gardens around them. Most buyers are people who wish to continue the business or convert the property into an exclusive private residence. Many factors contribute to the value of a property. Antiquity is an asset, but a buyer should first look at the year the building was renovated and whether large amounts of money have to be spent on repairs. Considerations like location, view, amenities, furniture and fittings and goodwill also have an impact on the price. A facility that has membership of Select Registry Distinguished Inns of North America may command a higher price. The value will be definitely higher if the property is listed in the National Register of Historic Places. |
