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.
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.
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
- 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 firstname.lastname@example.org www.danamoos.com www.bbteam.com
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