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973 Central Street

Millinocket

$770,000

beds   ·   baths   ·   14,660 sqft   ·   4.6 acres   ·   taxes: $16,705   ·   MLS#: 1682691

The Pamola Motor Lodge is a 24-room exterior and interior corridor motel with a tavern and restaurant on 4.6 acres along Central Street in Millinocket, Maine — 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 — 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.

MORE DETAILS

Structure

  • Electric : Circuit Breakers
  • Year Built : 1958
  • Flooring : Carpet, Laminate, Tile
  • Roof : Membrane
  • Basement : Slab
  • Heating : Oil, Baseboard, Hot Water
  • Cooling : Window Unit(s)

Site

  • Water Source : Public
  • Sewer : Public Sewer
  • Zoning : HC
  • Other Structures : Outbuilding
Listing provided by CENTURY 21 Queen City Real Estate

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© Camden Real Estate Company
43 Elm Street
Camden, Maine 04843
207.236.6171
info@camdenre.com
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43 Elm Street Camden, Maine 04843
207.236.6171     info@camdenre.com
   
© Camden Real Estate Company
privacy policy