2 Hotels for sale in Upstate New York

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Two hotel package offered for sale at $ 1,750,000 at the CAP rate of 13.48%

Property has two hotels for total of 106 Rooms. Both of  the hotels are interior corridor.

Property has two hotels for total of 106 Rooms. Both of the hotels are interior corridor.

The First hotel is franchise and has 58 rooms. The other adjacent Hotel has 48 rooms and is all efficiencies. The two hotels have a total of 106 Units.

Franchise Hotel is interior corridor with indoor swimming pool. Independent Hotel is also interior corridor with Efficiencies with 48 rooms including 24 kitchenette rooms. There is also a separate building is office building with Office on the first floor and manager’s 2 bedrooms apartment upstairs. Both the hotels are situated on 5.14 acres. All guestrooms feature microwave, refrigerator, TV. Current ownership upgraded the property.

The property now has excess capacity even during peak demand times.. The property with easy access to Interstate. Property is close to a large military base.

57 Rooms Franchise Motel

Year 2016 2017 2018
ADR $60 $66 $71
Occupancy 37% 36% 30%
Gross Revenues $504,366 $511,058 $480,730
Net Operating Income $168,238 $170,182 $175,495

48 Rooms Extended Stay Efficiencies

Year
2016 2017 2018
ADR $39 $40 $45
Occupancy 28% 30% 35%
Gross Revenues $171,003 $221,816 $228,771
Net Operating Income $31,784 $44,404 $60,503

Combined Operations 2018

Revenues
Hotel No. 1 for 57 Rooms $ 480,730
Hotel No. 2 for 48 Rooms $ 228,771
Total Income $ 709,501
Combined Net Income $ 235,998