NewburyportNews.com, Newburyport, MA

May 30, 2014

Seaside investment opportunity and so much more

By Lillian Shapiro
Director of Real Estate Advertising

---- — Should you have a passion for the seashore and an appetite for business, this entrepreneurial opportunity might just be the answer to your prayers. Sited on a quiet side street in the heart of historic downtown Rockport, this delightful boutique motel has been totally renovated and is now simply awaiting its next enthusiastic owner.

Essentially two properties in one, the iconic Eagle House Motel features two buildings at 8 Cleaves St. and offers 15 uniquely styled units equipped with private baths, air-conditioning, DirecTV, Wi-Fi and refurbished decks and a two-bedroom, one-bath owner’s penthouse for seclusion. The adjacent property at 10 Cleaves St. offers a three-bedroom, two-bath guest cottage for weekly rental. According to listing agent Gretchen Parker of Coldwell Banker Residential Brokerage in Gloucester, a bed-and-breakfast owner herself, prospects such as this one are few and far between.

“This is an exciting lifestyle opportunity for the buyer who wants to live and work in downtown Rockport. This is an established, well-respected, smooth-running operation,” she says. “Thanks to a loyal following of guests, a four-star rating on Trip Advisor and an outstanding reputation locally, there is really nothing to do but jump right in as innkeeper.”

Complete with off-street parking, a lovely outdoor gathering area with coffee cabana and waterfall, an outdoor shower and a full laundry, this is clearly not your run-of-the-mill lodging. While it certainly has the charm of a traditional inn, it also affords the privacy and convenience of a motel in walking distance to all that Rockport offers.

Just steps from the celebrated Shalin Liu Performance Center, Front Beach and Bearskin Neck’s many shops and restaurants, the property is set thoughtfully above Main Street on a quarter-acre lot overlooking the town. Close to all major routes and just 50 minutes to Boston’s Logan Airport, the motel’s ideal downtown location surely makes it appealing to the long-distance vacationer or as a quick weekend escape.

It has been the 10-year vision of the current owner to turn this into a top-notch, yet affordable, year-round accommodation, and he has certainly achieved that. There is still opportunity for the next owner to take the highly successful, turn-key business further with the growing number of large group bookings and other partnership opportunities.

Listed for $1,800,000, income and expense figures are available with confidentiality agreement for qualified buyers. For more information on this rare investment opportunity, or to schedule a private viewing, call Realtor Gretchen Parker at 978-394-4708.

AT A GLANCE

LISTED BY