70 Ocean Gate RD Southport, ME 04576
35,290 SqFt
UPDATED:
Key Details
Property Type Commercial Sale
Sub Type General Commercial
Listing Status Active
Square Footage 35,290 sqft
MLS Listing ID 1628486
HOA Y/N No
Year Built 1956
Annual Tax Amount $34,429
Tax Year 2024
Lot Size 33.000 Acres
Acres 33.0
Property Sub-Type General Commercial
Source Maine Listings
Land Area 35290
Property Description
Ocean Gate Resort was acquired by current owner, Radify Soutport, LLC, in December 2022 as part of a multi-property deal with the intention of repositioning and incorporating the LOGE brand. They opted to shift their focus on properties closer to their west coast corporate hub of Oregon. Since then, the resort has been well maintained with continuous upgrades.
Prior to their acquisition, the property underwent a full renovation of the meeting space (dining room and kitchen) including unit upgrades to the interior paint, carpet, bedding, cottage kitchens, flooring, bathrooms, and FF&E. This modest renovation was completed in June 2018 and totaled $900K ($15k per room). Over time, new roofing has been installed for most buildings. Other renovations include new windows and deck replacements. Whether a new owner chooses to make additional guest room improvements or implement a full PIP to drive ADR, Ocean Gate Resort is presently in turnkey condition. With 33 acres, and remaining developable land, this prime waterfront resort is positioned for investors to convert this into a top destination resort on the peninsula, and in the region.
Location
State ME
County Lincoln
Zoning Residential
Interior
Heating Baseboard
Cooling Wall Unit(s), Heat Pump
Flooring Wood, Vinyl, Tile, Composition, Carpet
Exterior
Parking Features 21+ Spaces, Paved, On Street
View Y/N No
Roof Type Composition,Shingle
Building
Lot Description Waterfront, Water View, Deep Water Access
Story 2
Foundation Other, Pillar/Post/Pier
Sewer Septic Tank, Other, Private Sewer
Water Well, Seasonal
Structure Type Wood Siding,Vinyl Siding,Stucco,Masonry,Wood Frame
Others
Restrictions Unknown
Energy Description Electric
