973 Central Street, Millinocket, ME 04462
sale
$770,000
|
Other
Courtesy Of Century 21 Queen City Real Estate
592 Hammond Street, Bangor, ME 04401
The Pamola Motor Lodge is a 24-room motor lodge with a tavern and restaurant on 4.6 acres along Central Street in Millinocket, Maine â the primary gateway community to Baxter State Park, the Katahdin Woods & Waters National Monument, and the northern terminus of the Appalachian Trail. At its highest and best use, the property offers additional upside to 28 total rooms: 1 room space in the main building currently serves as a vending area, and 3 detached rear units behind the property currently serve as the campground bathhouse â both could be converted to guest rooms. The property was acquired by the current ownership in 2024, at which time it was closed and vacant. Since acquiring the property, ownership has replaced carpeting throughout and signed a new lease with a bar/tavern tenant. The restaurant space has been leased to the same tenant for decades and continues to generate steady rent. Combined, the two leases generate $52,200 in contracted annual rent.
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Property Features
- Age: Over 50 Years Old
- Building Units: 24
- Cooling System: Window Unit(s)
- Exterior Type: Wood Siding
- Exterior Type: Wood Frame
- Floor Covering: Laminate
- Floor Covering: Tile
- Floor Covering: Carpet
- Heating System: Baseboard
- Heating System: Oil
- Heating System: Hot Water(Heating)
- MLSID: 1682691
- Roof Type: Membrane
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