Inn on Carleton In Portland, maine's west end

Inn on Carleton is a gracious Victorian era townhouse on four levels with all brick exterior, granite entry stairs, magnificent entryway and staircase, The main level boasts 11 foot ceilings, the second floor 10 foot ceilings and the third level 8.5 foot ceilings. On site parking is available for four cars (but additional street parking is readily available)

Granville Chase built this house in 1869 during the building boom following the devastating fire of 1866. The West End had quickly developed into a very fashionable neighborhood and still is! The original owner Mr. Gilbert Bailey was a successful businessman, city selectman and an inventor. He lived in the home until his death in 1904. After his death the house went thru a succession of owners.

In 1981, Greg Dismore and Gretchen Henn purchased the house; lovingly restored and transformed the house into one of Portland's first bed and breakfasts.

Guests' common areas include front parlor with grand piano and comfortable seating, the dining room with large table for eight and two cafe tables for four. Outdoors the guests have access to the English garden.

Many of the homes original architectural features remain in tact, i. e., trompe l'oeil paintings by Charles Schumacher in the entry hallway (below), opulent plaster moldings on the main and second level (below). The grand staircase with its' carved pineapple newel post (below) and the massive walnut pocket doors between the original parlor and the dining room. Antique ornate chandeliers grace many rooms and hallways in the Inn. Over the marble fireplace (with gas insert) is the oversized antique mantel mirror. The back extended dining area has a ornate tin ceiling and pocket doors. The details in this historic home are stunning.

Trompe L'oeil

a tour inside

The Inn has six large guest rooms on the second and third floors all with closets and en-suite bathrooms, energy efficient window unit air conditioners, and electric fireplaces. Five rooms have queen beds and one room a king. Rooms three and six have private hallways that create a suite-like feel for guests. Each guest room is individually decorated and freshly painted. Summer and winter bedding is matched to the color scheme and atmosphere for each.

property highlights

  • Built in 1869
  • Beautiful brick exterior with tall windows, granite steps and beautiful ornate wood doors and architectural details
  • 6 spacious guest rooms with en-suite baths on the 2nd and 3rd floors (three on each)
  • Elegant and comfortable dining room; parlor room with gas fireplace, marble mantel and grand piano
  • 11 foot ceilings on the 1st floor; 10 foot ceilings on the 2nd floor; 8 1/2 foot ceilings on the 3rd
  • Picture rails for hanging art throughout the inn on all floors
  • On site parking for 4 cars in gravel driveway
  • Public water and sewer
  • Roof is slate and rolled rubber
  • Flooring is hardwood, tile, laminate, carpet
  • Heating is hot water baseboard
  • Zoning - R6 Residential
  • 2017-18 Real Estate Taxes - $14,342

owner's quarters and the inn's private kitchen

The private owner's space consists of more than 1,500 square feet on two levels. There is a completely renovated stylish kitchen with all new appliances, granite counters, hanging pendants, retro ceiling fixtures and under cabinet lighting. And there's a sitting or dining area open to the kitchen. There are two full baths (both with tiled baths), two bedrooms plus a loft. There's a much enjoyed private deck overlooking English garden, a small garden room, two private entrances, and significant amount of storage space in the laundry room and mini workshop. This amount of private space is not your average owner's quarters!

area location, access and visibility

Inn On Carleton sits within Portland’s prestigious West End, a residential neighborhood renowned for its brick-lined avenues, historic architecture and refined character. Just a few blocks from the Inn, the graceful Western Promenade boasts Olmsted-designed walkways and grand western views across Maine to the White Mountains of New Hampshire and beyond.

Portland is situated right between Boston and Maine's mid-coast town of Camden. Portland is nationally and internationally recognized as one of America’s top destination cities for superior food, hospitality and recreation. It's really an exciting time to be in this town and experience its growth.

market position and competition

Portland, Maine is nationally and internationally recognized as one of America’s top destination cities for superior food, hospitality and recreation. Portland’s visitor scene is active year-round and high quality accommodations are in demand in all seasons. And Portland’s hospitality culture is vibrant and ever-growing.

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 several larger hotels (and new ones being built regularly). Inn on Carleton is one 11 of bed and breakfasts in town and there are 21 hotels. And there certainly are enough tourists to fill the rooms.

Inn on Carleton receives very nice reviews on Tripadvisor and is competitive with the top B&B’s, usually in the top 3 or 4 position. They offer rooms priced from $115 to $260 depending on the season. With Portland's continued growth, there is room for rate increases during both peak and non-peak seasons.

market potential

When looking at any business, determining market potential is at times an exercise in analysis and vision. A study of the revenue patterns for the past few years at Inn on Carleton demonstrates that it has enjoyed a steady increase in business and there remains future potential for new innkeepers. With Portland's ever increasing growth, there is potential to further increase the ADR (average daily rate) and increase occupancy in the shoulder and off seasons. It's all about the supply and demand.

With a continued disciplined approach to the business, judicious expenditures for controlled expenses and continued marketing, Inn on Carleton can continue to generate a comfortable ROI with a wonderful business and lifestyle for new owners. Owning a business in a vibrant, thriving town and loving where you live is paramount. This can be just that place for you.

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 1.20 to 1.28. With the appropriate down payment for commercial lending, the numbers do work. This is a financially viable business.

Additional Sources of Information

The inn's website

The broker's listing info

Link to additional property photos

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

Inn on Carleton is offered at $1,595,000 and is proudly brought to you by

Inn Brokers and Consultants Since 1993

Dana Moos, Lodging, Inn/Bed and Breakfast and Hotel 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 www.bbteam.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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