MERRILL HOUSE ESTATE FOR SALE – historic estate and event venue has been in the same family for over 230 years. Photo Album, Floorplans.
EARLY AMERICAN ESTATE including grand lodge with contents, cottage, workshop & barns in Andover Maine, 126 acres, half-mile riverfront, spring-fed swimming pond, and lucrative 35-year solar ground-lease, offered for $#,###,###.
Currently profitable as a venue for retreats, reunions, weddings, and special events. Seeking individuals or groups with a passion for the outdoors and nature, who are looking for a unique and expansive property with historic and architectural significance for retreats, special events, hospitality, historical development, or grand vacation experiences. We have a bank-supported wellness and mental health retreat business plan in progress, with significant upside valuation potential, that we would be happy to share.
Solar lease on 10 out-of-sight acres, construction complete targeted June 2025, providing $21,000 average per year for up to 35 years ($755K total), assumable by the purchaser and included in offer price.
The estate is spectacularly situated on a hilltop overlooking the valley, along the picturesque Ellis River in Andover, Maine with river and mountain vistas. The property lies just a half-hour from Sunday River Resort, and close to a great many ski, golf, hiking, biking, fishing, hunting, backcountry, lake, and river adventures in Maine’s Western Mountains and Rangeley Lakes Region.
Approach the 9600sf main house through stone gates and a long, winding driveway. Enter through the massive doorway into the expansive Great Hall, standing 30’ x 60’ and another 30’ high at the apex of its cathedral ceiling, featuring an incomparable, 12’ wide showcase granite fireplace and hearth, breathtaking 20′ tall picture window, and dramatic, irreplaceable decorations and furnishings. Enjoy the porches and parlors, a formal dining room that seats 30 or more, 16 bedrooms, 14 fully functional fireplaces, 6+ baths, and 2 full kitchens. Contents of the main house are included in the offering, minus a small list of family memorabilia.
Wander the grounds featuring a private spring-fed trout pond and beach, over half-mile riverfront, 16 acres of manicured lawns and gardens, landscaped architecture with dramatic monument stones, overbuilt stone walls and picturesque gates, pristine pastures and forest, with mountain vistas and walking paths throughout. 50 acres are under tree-growth plan with groomed trails.
The Estate is the legacy of successful publisher Henry Varnum Poor, founder of Standard & Poor’s, Inc. The structures and grounds boast architectural contributions from Stanford White and Frederick Law Olmsted, completed in 1902. The original farm was carved from the wilderness in 1791 by Ezekiel Merrill, a Revolutionary War veteran and the first homesteader in the valley. The estate has remained in the same family ever since, now over 230 years. For more history, please see Merrill House History
Completing this magnificent property are:
• A finely crafted, 2,500sf, 4-bedroom caretaker’s cottage
• A 6,000sf barn with compelling architectural features and 6 garage spaces
• A 2,000sf workshop, currently used for woodworking
• 3 well-built sheds
• Street access on 3 sides with street-side 3-phase electrical service
OFFER CONSIDERATIONS
Please consider the following:
- Asking price allowance for discretionary updates. The property is partially heated and currently operates four-season for up to 12 overnight guests (6 bedrooms, 2 full and 2 half baths, kitchen, study, & Great Hall), with 200-amp electrical service and updated plumbing, supporting three-season full occupancy of up to 32 overnight guests. We recognize many updates may be contemplated, and have priced the offering AS IS, at a significant discount to comparable-based market valuation, providing the buyer material allowance for their vision. We welcome alternative perspectives.
- Commercial financing requirements. Commercial financing will require a business plan that shows debt service coverage based on operating cash flow, plus a cap-rate based ROI, and a market-based appraisal. Local bank commercial lending programs are recommended. Offers contingent on commercial financing should reflect this consideration.
- Residential mortgage requirements. Please speak with your banker about their interest to lend against this specific property. Our experience is that residential mortgage bankers will require appraisals using comparable nearby property sales. Offers contingent on residential financing should reflect this consideration.
- Cash offers are requested. The sellers are open to other approaches.
The property is currently offered for sale by owner. Buyer’s agents welcome.
INTERESTED PARTIES PLEASE CONTACT
Nick Chandler
Merrill House Partners, LLC
info@merrillhouse.com
Or by text to 978-979-3173