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Sandy Bay Motor Inn Rockport MA |
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Sandy Bay Motor Inn Rockport MA
Sandy Bay Motor Inn Website
PROPERTY HIGHLIGHTS
* Set Scenic Rockport Massachusetts |
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The asking price has been reduced to $2,900,000. Property operations have suffered from the lack of improvements and revenues have dropped considerably from there levels in the early 2000’s of around $1,000,000 in room revenues, the restaurant has not been operated agressively and closed in January of 2007 and the entire property was closed the first week in June 2007. A purchase in the late fall so that improvements can be made in the winter months with a re-opening in the spring is very feasible. |
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The Sandy Bay Motor Inn was built by a very well known contractor from Rockport, Michaell Feldman. The first 48 rooms were built in
1975 with 20 additional rooms added in 1983, and an additional four room suites, functions rooms, restaurant and lobby were added from
1984 through 1986. All 79 rooms and all facilities are exceptionally well built with pre-cast concrete floors and ceilings and block
walls. The land area is +3 acres, the pool is enclosed and municipal water and sewer run by the property, however, the current water
supply is from an on site well that produces 70 gallons of water a minute. Although the structure and mechanical operations
of the property are excellent there has been no improvements made to the rooms or the common areas and
they need considerable upgrading, also replacement is required on some roofs and exterior siding. The property has both interior and exterior
entryways but is attractive and could be one of Cape Ann’s best properties. This is clearly a redevelopment/repositioning opportunity in one
of Massachusetts most attractive resort communities and can benefit greatly by its close proximity to Boston if properly marketed.