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Open Hearth Inn At the head of Mount Desert Island, Maine.

a welcoming entrance to the lobby and check in

charming cottages, each with an adjacent parking spot

deck off the sunroom with the hot tub

the cottages are nicely spaced for some privacy

lovely landscaping and flowers

guests can relax on the common deck

each cottage has seating and a picnic table

At a Glance

  • 17 units: 8 cottages, 3 inn style suites, 4 lodge/motel rooms and 2 fully appointed apartments (which can be rented nightly, weekly or long term).
  • plenty of parking; guests can park directly next to or in front of their unit
  • 1.41 acres
  • private well/all new septic
  • Strong seasonal business from just mid-May to mid-October.
  • real estate taxes $4,578 (2018)

Owner's quarters is in the main 1800s home, behind the office area, and accessible from a few locations. It is spacious and offers 1 bedroom, 1 bath, spacious kitchen open to the living room and dining room. There's a first floor staff bedroom with sink and a bathroom with shower is in the laundry room. It's a bonus to be able to house staff onsite. The layout is very conducive to both privacy and flow of business operations.

The current owners have put a great deal of money and effort into updating this wonderful property over the past three years. They have been just what Open Hearth Inn needed (or what we refer to as OHI). Check out the list of improvements above.

Maine cottages for sale are something buyers are often interested in but there aren't many on the market. Don't miss the opportunity here!​

A Bit of History

​The Open Hearth Inn was originally built by a member of one of Trenton's earliest families, circa 1820. Many of the original architectural details have survived, including the pumpkin pine floors, paneled wainscoting, and the large open hearth fireplace, complete with oven and iron crane.

As motorists took to the roads after World War II and the popularity of Acadia National Park developed, the demand for tourist lodging grew. The early 1800s Cape Cod style house was converted to a lodging business in the mid 1940s. The first cottages were constructed in these early years and thereafter each consecutive innkeeper added a new facet to the accommodations. More cottages were built in the 1950s, motel rooms in the 1970s, apartments in the 1990s, and original rooms in the house were converted to suites in 2004.

A Tour Inside

A sampling of cottages, lodge rooms, inn style rooms and apartments

Come and take a journey back in time. The cottages are the original authentic 1950 cottages built when the Open Hearth became an Inn, with a few modern conveniences thrown in. The Inn-style suites are in the original house, circa 1800's which allows the traveler to experience what it would have been like to stay in an Inn in Maine back then, with modern conveniences added. If those are too far back in time, the lodge is circa 1970's for that retro feel of the seventies. These historical accommodations are disappearing across the country, however every unit at Open Hearth is the real deal with the original buildings.

The lobby/office is a welcoming space with coffee and fruit for guests to enjoy throughout the day. Two types of homemade muffins are freshly baked and served each morning in the lobby.

Property Highlights

  • original colonial built in 1810
  • 17 rental guest units
  • 1.41 acres
  • prime visibility on Route 3, the only route to Bar Harbor and Acadia National Park
  • private well/all new septic 2015
  • all new roofs
  • new landscaping 2017/18
  • commercial zoning
  • 2018 real estate taxes $4,578
  • 1 car garage in Lodge building with large workshop
  • parking for 22 cars, gravel lot and driveway, some of which is paved

Owner's Quarters

Owner's quarters is in the main 1800s home, behind the office area, and accessible from a few locations. It is spacious and offers 1 bedroom, 1 bath, spacious kitchen open to the living room and dining room. There's a first floor staff bedroom with sink and a bathroom with shower is in the laundry room. It's a bonus to be able to house staff onsite. There's a sliding glass door with a small fenced in yard (great for dogs!). Upstairs is a bedroom and bath with plenty of natural light. There's a staff bedroom and a full bath for staff in the laundry room area which can come in very handy to be able to house staff. The layout is very conducive to both privacy and flow of business operations.

Area Location, Access and Visibility

​Located on Route 3 at the head of Mount Desert Island, Open Hearth Inn is 12 miles to Bar Harbor, 9 miles to Acadia National Park, 15 miles to Bass Harbor Head Light, 12 miles to Southwest Harbor, 8 miles to Ellsworth, 35 miles to the Schoodic Peninsula of Acadia National Park, 36 miles to Bangor, 65 miles to Camden and 163 miles to Portland. The Bar Harbor Hancock County Airport is a half mile up the road. Open Hearth Inn makes a great home base for day trips around Maine and to the islands of the coast of MDI.

Scenic Flights of Acadia and Acadia Air Tours are just a half mile away as well. Nearby neighbors are the very popular Lunt's Lobster, Trenton Bridge Lobster Pound, and Downeast Lobster Pound.

Open Hearth Inn is right on the Island Explorer bus route (free) which also carries bicycles. So guests can park their car and enjoy all that Bar Harbor, Acadia National Park and Mount Desert Island have to offer. ​​

Market Position and Competition

Tourism is the number one industry in the state so the lodging choices in this area are wide-ranging, from small inns and bed and breakfasts to a few larger motels and hotels. Open Hearth Inn is one of many area motels/cottages in town but Open Hearth Inn offers something a bit different. They offer a mix of classic B&B style rooms, motel rooms and desirable cottages. They are somewhat of a hybrid lodging establishment which makes them a bit more unique. Every morning they serve two types of homemade, freshly baked muffins along with coffee and fresh fruit. Open Hearth Inn guests see the value in what they're getting.

Open Hearth Inn receives very nice reviews on Tripadvisor and is competitive with the area lodging places. They maintain top ranking and a 4.5 star average. They offer rooms priced from $70 to $135 depending on the season and there is room for increase during peak and non-peak seasons. Reviews indicate the price can't be beat. That tells you there's room for a slow increase.

Market Potential

When looking at any business, determining market potential is at times an exercise in creative imagination. A study of the revenue patterns for the past few years at Open Hearth Inn demonstrates that it has enjoyed a dramatic increase in business since 2015 and since improvements have been made. While the inn has grown the income, there remains future potential for new innkeepers.

With a continued disciplined approach to the business, judicious expenditures for controlled expenses, continued moderate upgrades and marketing, Open Hearth Inn should continue to generate a comfortable ROI with a wonderful business and lifestyle for new owners.

Investment Considerations

The process for assessing and valuing the business is multi-layered. The first step is to look at an actual profit and loss statement.

The second step is to consider fixed and variable costs. How can you manage things more affordably? How will you increase revenue without increasing expenses? What can you do more efficiently? Can you market more aggressively? Based on your cash down, how will your net operating income work for you?

The most important part of the investment analysis is the debt coverage ratio. This is important in assessing whether a lender would consider the cash flow to be adequate to support a loan. They are generally looking for a number of at least 1.25 to 1.30. With the appropriate 20-25% down payment for commercial lending, the numbers work at Open Hearth Inn.

Additional Sources of Information

The inn's website

The broker's listing info

Link to additional property photos

Link to photos around the area

Maine Tourism Association

Maine Innkeepers Association

Other Documents Available

  • Deed
  • Supporting Financial Statements
  • Inventory of Personal Property
  • Seller’s Property Disclosures
  • Improvements List
  • Additional Photos of Owner’s Quarters

Open Hearth Inn is offered at $1,100,000 and is proudly brought to you by

Inn Brokers and Consultants Since 1993

Financial details shared with qualified buyer and signed non-disclosure agreement.

Dana Moos, Lodging, Inn/Bed and Breakfast and Motel Broker

Lafayette Center - 2 Storer Street, Suite 404, Kennebunk, ME 04043

iPhone 207.266.5604 efax 207.669.8326 dana@danamoos.com www.danamoos.com

Innkeeping: a home, a job, an investment and a lifestyle

Broker/Consultant Disclaimer

The B&B Team® and its representatives believe that the information contained herein is accurate and has been obtained from sources it believes reliable, including the owners of the property and business, but it has not been independently verified, is not guaranteed and is submitted subject to errors, omissions, change of price, prior sale, or withdrawal without notice. There may be additional information available to a purchaser from other sources. Purchasers should exercise whatever due diligence they feel is necessary and should not rely upon the information contained herein. Neither The B&B Team nor its representatives warrant the suitability of the property for any particular purpose and do not assure the success of any future or contemplated business venture. If you have received this from anyone other than The B&B Team or someone authorized by The B&B Team, its use is strictly prohibited.

Non-Disclosure of Material

This buyer’s offering report contains information of a sensitive nature. The owners of the property and business herein described do not want this information shared with anyone other than your legal and tax advisors; therefore, this information is released on the understanding that it will not be reproduced or disseminated without written permission of the Broker or Consultant and only after agreeing, in writing, to maintain the confidentiality of the information.

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