Ocean Gate Resort is a 65-room coastal Maine resort located on Southport Island, less than 10 minutes from downtown Boothbay Harbor. Nestled among 33 acres of woods and ocean-view vistas, the resort features a full array of recreational amenities, including an outdoor heated pool, canoes and kayaks launched from a private dock, miniature golf course, fire pits with Adirondack chairs, bikes to explore the area, and tennis and basketball courts. Almost all the guestrooms feature ocean-views, and most offer private balconies or decks. The Property is open from May to October and benefits from recent front and back of house upgrades. Southport Island is located on the Maine Coast, 10 minutes from downtown Boothbay Harbor, less than 1 hour and 15 minutes from Portland, Maine, and 3 hours from Boston, Massachusetts. While guests aren't enjoying the resort amenities, the area is known for kayaking, boat tours, sailing, weddings, the Coastal Maine Botanical Gardens, and delicious local seafood. Ocean Gate offers investors the opportunity to acquire irreplaceable waterfront real estate with significant value-add opportunities including select guest room improvements, additional development on 33 acres of land. Ocean Gate Resort was acquired by 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, and improvements to the guestrooms and cottages, including 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, additional room upgrades, and deck replacements. Whether a new owner chooses to make additional guest room improvements or implement a full PIP to drive ADR, the property and resort is presently in turnkey condition. With 33 acres, and remaining developable land, this prime waterfront resort is positioned for new owners to convert this into a top destination resort on the peninsula and in the region. Guestroom Mix: 65 Total Rooms in 8 Buildings Dockside: 28 Rooms Cedar: 12 Rooms Ocean Ridge: 8 Rooms Island View: 4 Rooms Overlook: 5 Rooms (Including 2 Suites with Kitchens) Pineview: 6 Rooms (Including 3 Suites with Full Kitchens/Kitchenette) One Bed Cottage: 1 Unit with a Full Kitchen Two Bed Cottage: 1 Unit with a Full Kitchen Meeting Space: 100-150 Person Events F&B: Complimentary Breakfast Amenities: 9 Hole Mini-Golf Heated Pool Tennis Court Basketball Court Fire Pits Ping Pong Table Dock with Canoes/Kayaks/SUPs Season: May – October Employee Housing: 2 Studios with Kitchens and Bathrooms 3 Rooms with Shared Kitchen and 2 Bathrooms Built in 1956 (in Phases between 1950s & 1980s) on 33 Acres Last renovated in ~2020 2024 Real Estate Taxes $34,428.76 Deed Book 5968, Page 30, Lincoln County Registry of Deeds Tax Map 24 + 25, Lot 10 (excludes lots 10-1, 10-2, 10-3, 10-4) Paved parking for ~ 60 cars Laundry: in house 2 washers 4 dryers Water: town water Supplied May 1 to 3rd Thursday of October; well water for Registration Building (used in the off season) Sewer: Traditional septic systems with leach fields; for Laundry Building and 6 Rooms Tight Septic Tanks for 11 rooms (pumped as needed) Overboard Discharge septic system for 48 of 65 Rooms (permitted by Maine DEP)