Romah Motor Inn In naples, maine, in the western lakes region

Property Overview

Built in 1960, Romah Motor Inn is ideally located one mile from the Naples Causeway. They are open year round with four seasons of activities and events for guest's enjoyment. They are close to swimming, boating and fishing at Long Lake, Brandy Pond, or Sebago Lake. In the winter guests can enjoy snowmobiling, ice fishing and skiing at Shawnee Peak, just 15 minutes away. Within walking distance, there are several restaurants, shopping, antique shops, fine golf and mini-golf courses, many different kinds of water activities, hiking and bicycling trails, airplane rides, romantic cruises and lake activities.

At a glance

  • 9 units: a mix of single and double queens with a few rooms accommodating additional guests. One of the units is a spacious efficiency with full kitchen)
  • Very well maintained and very, very clean
  • Rooms are spacious and bright with windows in front and back and have A/C, refrigerators, coffee makers, WiFi and TV
  • Open year round but fairly strong seasonal summer business with room for growth
  • Just one mile south of the Naples causeway and all of its attractions
  • 2 bedroom owner's apartment with 1 bath, private deck, kitchen, living room with wood burning fireplace, dining room, laundry, storage, 2 car garage, plenty of space! New dishwasher, stove, ceramic tile floors
  • Very turnkey. New owner simply has to come in and run the business, not the property.

Full financial detail provided with signed non-disclosure agreement.

Romah Motor Inn has a front porch filled with hanging flowers
The view as seen on the Causeway in Naples
welcoming, adorable and well cared for

A tour inside

A sampling of rooms

property facts

  • Owner: Cosmas Papastavrou
  • Address: 310 Roosevelt Trail, Naples, ME 04055
  • Legal Description: Book 21130, page 267 of Cumberland County Registry of Deeds
  • Taxes: $6,493 (2017)
  • Deed: Warranty
  • Land: 1.42 acres
  • Zoning: Commercial
  • Designated use: Hotel/Motel
  • Construction: Wood frame
  • Siding: Vinyl
  • Roof: Composition shingle (2009)
  • Windows: Thermal pane replacement
  • Flooring: vinyl, tile, carpet
  • HVAC: Hot water baseboard, AC window units
  • Hot water: Off heating system
  • Fuel: Propane, Oil (propane cooking)
  • TV/Internet: Cable/Wireless throughout
  • Water/Sewer: Private

property highlights

  • 9 motel units (8 single and double rooms plus 1 efficiency with kitchen)
  • Built in 1960
  • Large, sloping lawn with mature trees and plenty of area for outdoor entertaining
  • Large, private backyard
  • Great visibility on Route 302 (Roosevelt Trail)
  • Spacious owner’s apartment connected through the front office/check-in
  • Large paved parking area along length of the motel and on the side as well

owner's quarters

The owner's apartment at Romah Motor Inn offers privacy with 2 bedrooms with 1 bath, a private deck, spacious kitchen, living room with wood burning fireplace, dining room, laundry, storage, 2 car garage, plenty of space! New ceramic floors, new dishwasher, new range! For a lodging property in this price range, such owner's space is a nice perk.

very large master bedroom, spacious kitchen, deck off the dining room/kitchen area. Not pictured is a living room with a wood burning stone fireplace.

area location, access and visibility

Romah Motor Inn is about 15 minutes from Bridgton, 40 minutes from Portland, 45 minutes from North Conway, New Hampshire, and minutes away from all of your Four Season Activities.

Romah Motor Inn sits on Route 302 at Route 11, with great exposure for travelers heading most anywhere in the Sebago Lake region. The causeway less than a mile up the road spans Long Lake and Brandy Pond, where water sports are the summer event. The beautiful scenery of the lakes, however, would make tourism the dominant industry. Visitors in the 19th century included Henry Wadsworth Longfellow and Nathaniel Hawthorne.

Naples is probably the most popular resort town in the “western lakes region” of Maine and sits just north of Sebago Lake.

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 motels and bed and breakfasts to cabins and cottage rentals. Romah Motor Inn receives very nice reviews on Tripadvisor and is competitive with rates. Many reviews mention very clean and good value. They offer rooms priced from $79 to $189 depending on the season and the room.

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 Romah Motor Inn demonstrates that it has enjoyed a steady business, despite a dip in the economy and tourism some years back. But there remains a lot of future potential for new innkeepers. The current owner doesn't do much marketing and only implemented online reservations July 2017.

With a continued disciplined approach to the business, judicious expenditures for controlled expenses and an increase in marketing, and social media marketing, Romah Motor Inn can generate a comfortable ROI with a wonderful business and lifestyle for new owners.

Aerial photo high above Naples at the causeway

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 work at Romah Motor Inn.

Additional Sources of Information

The property's website

The broker's listing info

Link to additional property photos

Maine Tourism Association

Other Documents Available

  • Deed
  • Supporting Financial Statements
  • Inventory of Personal Property
  • Seller’s Property Disclosures Improvements List

Romah Motor Inn is offered at $560,000 and is proudly brought to you by

Inn Brokers and Consultants Since 1993

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.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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