Limerock Inn Presented by The B&B team - Offered at $1,395,000

This gorgeous 1893 Queen Anne Victorian is a stunning example of a well preserved historic home. The slate roof was replaced in recent years. The round windows in the turret remain. The original woodwork details inside remain. The landscaping and mature gardens are simply gorgeous. The inn offers a lovely mix of comfortable, casual and period furnishings. It is evident that the inn has been well cared for over the years. Welcoming hospitality at its best!

This inn is the ideal place to host a meeting, family reunions, intimate gathering or small celebration. With landscaped gardens, the grounds are perfectly suited for a tented outdoor event. If you prefer something more intimate or formal, the common rooms (including the Living Room, Formal Parlor and Dining Room) blend tasteful décor with the charm and splendor of a by-gone era.

The innkeepers have established relationships with a variety of party planners, caterers, florists, musicians, even clergy. . . all the elements to make any function a success.

At a glance

.74 acre beautifully landscaped lot; 8 guest rooms with en-suite baths; gorgeous original woodwork and moldings throughout; double parlors, bright dining room, high ceilings, large wrap around porch with plenty of seating for guests to enjoy; open year round; fully sprinklered; replacement slate roof; approximately 5.200 sf of finished space, 220 sf of unfinished attic space, 440 sf of unfinished basement space, perfect for storage.

​This exquisite example of Queen Anne architecture is reminiscent of the gracious lifestyle of a bygone era.

Limerock Inn is the turreted green inn on the bottom right, showing the proximity to town and the harbor

Rockland, Maine

LimeRock Inn is tucked away on a quiet street in Rockland’s Historic District yet steps away from a visit to the world-class Farnsworth Museum, fine dining, European-style shopping, and what Down East magazine referred to as "mid-coast Maine's most beautiful ocean walk."

Maine Magazine says that ‘…the mid-coast straddles the lines: neither entirely rugged nor overly polished, it’s the best of both worlds”. Exceptional dining is available throughout the region as well as favorite casual eateries. The art scene is bountiful with galleries up and down the coast anchored by the world famous Farnsworth Art Museum. The Center for Maine Contemporary Art opened its doors in 2015 and joins the Farnsworth as a world class art museum. There are two dozen art galleries and the shopping scene features Maine artisans that are often more like art galleries than shops, a feast for all the senses. So many reasons to visit and live in the area. To be a part of the growth and revitalization of the area would be exhilarating.

“Rockland investors are pouring more than $20 million into a variety of projects to make Rockland a bigger draw for visitors and residents all year round.” Mainebiz October 5, 2015. Check out this list of Limerock and Rockland mentions!

The Inn attracts guests year round. There is always something to experience in all seasons on the mid-coast. There are off shore islands to explore, cross country or downhill skiing at the Snow Bowl where you can ski and view the ocean at the same time! Music festivals, THE one and only lobster festival, lighthouses to visit and bays to sail. Many guests stay for a week and never tire of activities and explorations.

Located just a block from the Knox County Courthouse and other downtown businesses, this inn is an ideal alternative to traditional lodging for the business traveler.

Just 75 miles from Portland, 85 miles from Bar Harbor and only 8 miles from Camden, Rockland is a wonderful base to explore much of what Maine has to offer given its midcoast location.

A perfect backdrop for a memorable event
A beautifully landscaped spacious and level backyard is perfect for tented events
gorgeous purple irises match the Limerock trim
Classic Queen Anne with a round turret

A Tour Inside

The casual parlor to the left; the dining room to the right
Guest Rooms
Guest Rooms
beautiful woodwork

The Owner's Cottage

The detached private owner's cottage is approximately 700 square feet plus a small loft area and a 12x12 deck off the back from a sliding glass door. This is privacy for innkeepers at its best. The cottage has an open concept kitchen and living room, with bedroom and bath off the living area. French doors open onto a deck with a vine covered pergola, offering coveted privacy. The inn’s kitchen has two gas ranges side by side, rolling metal islands with open storage below for easy access to daily ingredients.

owner's cottage is painted to blend seamlessly with the inn

light and bright with a cathedral ceiling; open concept living

hardwood floors, gas stove, and French doors to a private deck

all you need in a kitchen

steps lead to a loft

Property Highlights

  • built in 1893
  • square footage: 5,200
  • lot size: .74 acres, well landscaped, with a gazebo, the perfect space and setting for events (tented as well)
  • 8 guest rooms with en-suite baths, one with fireplace, one with its own deck
  • two parlors, one with a gas fireplace, bright semi-formal dining room, butler’s pantry with guest computer and
  • printer, coffee maker, snacks, guest fridge
  • full unfinished basement with 7 foot ceilings, ideal for storage, a workroom, etc.
  • public water and sewer
  • gravel driveway, parking for 5 cars off street, with seasonally unrestricted street parking exterior: clapboard siding; new slate roof; composite soffits; fiberglass gutters
  • original double hung windows
  • flooring: hardwood, tile, carpet, vinyl
  • mechanical: air conditioning - window units; heating – oil fired water radiators and hot water baseboard; propane stove heater in owner’s cottage, plus electric baseboard in owner’s cottage bathroom; water heater – on demand
  • fully sprinklered
  • zoning: Residential A Taxes: $14,450 (2017)

Property Facts

  • Owner: Wisganiter, Inc.
  • Address: 96 Limerock Street, Rockland, Maine 04841
  • Legal Description: Book 3358, page 142-143 of Knox County Registry of Deeds
  • Deed: Warranty
  • Land: .74 acres
  • Zoning: Residential A
  • Designated Use: Bed and Breakfast
  • Construction: Wood frame with wood clapboard
  • Roof: Slate (replaced in recent years) and porch roof is asphalt shingle
  • HVAC: A/C units; oil fired, hot water baseboard, gas stove, electric baseboard
  • Hot Water: on demand
  • Gas: Bottled (gas cooking and propane stove)
  • TV/Internet: TV in all rooms; wireless throughout
  • Water/Sewer: Public
beautiful slate walkway leads to the front door

Access and Visibility

LimeRock Inn is tucked away on a quiet street in Rockland’s Historic District yet steps away from a visit to the world-class Farnsworth Museum, fine dining, European-style shopping, and what Down East magazine referred to as "mid-coast Maine's most beautiful ocean walk." Encircled by a wraparound porch and landscaped gardens, this beautiful turreted Victorian mansion is an exquisite example of Queen Anne architecture and reminiscent of the gracious lifestyle of a bygone era.

Market Position and Competition

Tourism is the number one industry in the state so the lodging choices in this region are wide-ranging, from small inns and bed and breakfasts to a few larger resorts and hotels. LimeRock Inn is rated 5 stars with more than 500 reviews from TripAdvisor users online. We are also recommended by Fodor's Travel, Frommers Travel Guide, Lonely Planet and Michelin Travel Guides and was voted "Best Undiscovered Romantic Inn in Maine " by BedandBreakfast.com.

For the business traveler, Limerock offers secure, high-speed wireless internet. Those traveling without a laptop can use the desktop computer in our guest amenities center. The guest amenities center also includes a laser printer, color inkjet printer, scanner and fax machine in order to meet guest needs during their stay. The inn is located a block from the Knox County Courthouse and other downtown businesses making Limerock an ideal alternative to traditional lodging.

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 Limerock Inn we see there is consistency. They have become known and the occupancy is evidence.

The LimeRock Inn is the ideal place to host a meeting, family reunions, intimate gathering or small celebration. With landscaped gardens, the grounds are perfectly suited for a tented outdoor event. If you prefer something more intimate or formal, the common rooms (including the Living Room, Formal Parlor and Dining Room) blend tasteful décor with the charm and splendor of a by-gone era.

Market Potential

The innkeepers have established relationships with a variety of party planners, caterers, florists, musicians, even clergy, all the elements to make any function a success. This could be enhanced and marketed more aggressively.

Weddings, Commitment Ceremonies, Elopements

If you’re thinking a Victorian setting along Maine’s picturesque coast is the perfect way for your guests to say “I do”, the LimeRock Inn is just ideal. This classic Queen-Anne architecture, period details and beautifully landscaped lawn are the ideal backdrop.

Maybe your guests just want to escape for the weekend for an intimate exchange of vows in the backyard gazebo. The inn offers the perfect Elopement/Small Wedding Package. Maybe your guest has always dreamed of having the ceremony in an open-air chapel overlooking the ocean followed by a wonderful reception at the inn. Limerock can accommodate up to 50 guests for a cocktail style reception using the common rooms of the inn or up to 75 guests for a tented backyard reception.

Dinner and Cocktail Parties

Not everyone’s house is big enough to get together with friends or family. Limerock is. The common rooms at the LimeRock Inn are all tastefully decorated to blend with original period details like high ceilings, original lighting, leaded stained-glass, and detailed moldings and wainscoting in native ash and oak. This creates an ideal setting for gatherings.

Family Reunions, Retreats, Meetings, Functions

Local businesses and civic groups already know and appreciate Limerock’s common rooms as meeting space. Combined with a catered meal, Limerock is a perfect day retreat for businesses and their staff. But that’s not all.

With eight luxurious and well-appointed guest rooms, Limerock Inn is also an ideal destination to host getaway retreats. Whether it’s the Book Club or the Board of Directors, the LimeRock Inn can accommodate a number of needs. Their guest amenities center includes a desktop computer, fax machine, laser printer and scanner and a high resolution color printer.

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 about 1.25 to 1.30. With the appropriate down payment for commercial lending, the numbers work on Limerock Inn.

Additional Sources of Information

The inn’s website: http://limerockinn.com

Link to additional property photos: https://goo.gl/h4kUcf

Owner’s Quarters Photos: https://goo.gl/photos/E7xyNh6PvMGuUXU27

Other Documents Available

  • Deed
  • Supporting Financial Statements
  • Seller’s Property Disclosures
  • Inventory of Personal Property
Inn Consultants and Brokers

2 Storer Street, Suite 404, Kennebunk, Maine 040403 Tel 207.266.5604 dana@bbteam.com www.danamoos.com www.bbteam.com

© Copyright 2016 The B&B Team, Inc.

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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