17-Unit Motel with 18% cap rate in Wellsville, New York USA| Property Group | Commercial | | Property Type | Hotel or Resort | | Built | 1954 | | Lotsize | 2.44 acres | | Waste System | Septic | | Price | US$ 599,000
For Sale |
| | Location | Wellsville | | Nearest City | Corning |
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MOTEL FEATURES
* Gross Income: $192,000. - Net Income: $113,000.
Hilltop location (2,000' elevation) with a beautiful view of the Southern Tier
Currently 17 Units - with room for expansion
Wood frame construction with ground level rooms
Located on 2.442 Acres of land
2 pure water wells and 3 septic systems
Built in 1954
* Two Bedroom Owner's Apartment
On-going renovations
In excellent condition
Great opportunity for a family to run a turn-key business
Includes ownership of computer compatible PBX with direct dial and call accounting system, credit card terminal with printer, commercial satellite system for TV's with remotes and VCR's in each room, with large inventory of complimentary movies for guests.
The major source of advertising is through "word of mouth" because the motel has the best reputation in the area.
The motel has excellent fluorescent sign (6'x10'x18') at the entrance and six (8' x 12') billboard signs on the four major arteries leading into the village.
The motel has an average annual occupancy rate of 45%, with many repeat business guests.
The Owner's/Manager's 2-bedroom apartment is located next to the lobby area and includes a kitchen and living room.
Area attractions include cross-country skiing, snowmobiling, hiking, hunting and fishing.
Reason for Selling: The Owners have enough money to buy a 70-Unit motel in another state.
Owners have requested that all buyers submit proof of their financial ability to purchase this motel when they submit an offer. When requesting or submitting information about this listing, please include your full name, mailing address and telephone number. Thank you!
Current Weather in New York, Kennedy International Airport, NY, United States
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Wind 3.1 meters per second (6.9 miles per hour) from east/southeast (120°).
Temperature: 26 °C (79 °F), with a dew-point at 11 °C (52 °F)
Temperature feels like: 26 °C (79 °F)
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Relative humidity: 39.1%.
Clouds: a few clouds at a height of 1219 meters (4000 feet), scattered clouds at a height of 2591 meters (8500 feet), and broken clouds at a height of 3962 meters (13000 feet).
Overall visibility: 16.1 kilometers (10.0 miles)
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