FOR SALE
SUPER 8 MOTEL
Plattsburgh
New York
Address:
7129 Route 9 N, Plattsburgh, NY 12901
Number of Keys:
61 (Including 15 kitchenette with mini-stove,
refrigerator, sofa bed and TV)
Plus Manager’s 3-bedroom apartment
Plot Size:
2.7 +/- Acres or 117,612 square feet (Approx.)
Year Built:
1991
Stories:
2 story (all brick)
Gross Floor Area:
33,000 (Approx.)
Parking:
88 spaces
Frontage:
320 feet along Route 9 where the Entrance is.
353 feet along Interstate 87 (Adirondack Northway)
222 feet along Highway 314 (Cumberland Head Rd.)
High Visibility & Significant Marketing Opportunities
Section, Block, & Lot: 194.-1-24.2
Parcel ID:
1123
Municipal Code:
094200
Distance to…
Lake Champlain:
½ mile
Canada Border:
22.7 miles (24 mins.)
Montreal / Casinos: 62.6 miles (1 hr. 10 mins.)
New York City:
311 miles (5 hrs. 30 mins.)
Property Description: The Super 8 Motel Plattsburgh is located in the township of Plattsburgh, Clinton County, New York along the
western shore of Lake Champlain and consists of a total of sixty-one (61) rooms plus a Manager’s 3-bedroom apartment. The property is
located just off I-87 (Exit 39) featuring 353 feet of frontage along the major thoroughfare and primary access road in the Adirondacks which
has traffic flow of more than 25,000 cars a day on the stretch from Lake George to Lake Champlain. The motel is comprised of a 2-story
brick building comprising approximately 33,000 square feet and 88 parking spaces. The property itself is surrounded by single family rural
residences with significant acreage, a shopping center with movie theater and bowling lanes, a gas station, several eatery’s and
convenience stores and a slew of hotels including Sundance Motel, Chateau Motel and Rip Van Winkle Motel to name a few.
Super 8 Motel Plattsburgh offers guests an on site business center and services at the property, 24-hour front desk services,
complimentary continental breakfast, an indoor swimming pool, an arcade/game room, and air conditioning in all public areas. Onsite
parking is also complimentary and pets are accepted. Rooms are equipped with televisions and cable channels, kitchenettes with ministoves and refrigerators, a clock radio as well as hair dryers in each bathroom. Additionally, this Plattsburgh motel provides complimentary
wireless high-speed Internet access.
The Super 8 Motel Plattsburgh is one of the most active hospitality properties in the Lake Champlain area. With easy access to I-87 and
Route 9 the property is situated close to the Central Business District, shopping malls and attractions. Also, with Plattsburgh situated on
the shore of Lake Champlain which boasts a large summer and winter tourist season from its many attractions and fishing tournaments,
continued operation as a hotel is most likely its highest and best use.
ASKING PRICE:
$2,350,000
For further information please contact Agents:
John F. Ciraulo
Craig M. Waggner
Vice Chairman, Partner
[email protected]
212-696-2500 x7700
Director of Sales
[email protected]
212-696-2500 x7744
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any.
The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel
should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
www.masseyknakal.com
THE BRONX
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER
FOR SALE
SUPER 8 MOTEL
Plattsburgh
New York
ASKING PRICE:
$2,350,000
For further information please contact Agents:
John F. Ciraulo
Craig M. Waggner
Vice Chairman, Partner
[email protected]
212-696-2500 x7700
Director of Sales
[email protected]
212-696-2500 x7744
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any.
The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel
should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
www.masseyknakal.com
THE BRONX
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER
FOR SALE
SUPER 8 MOTEL
Plattsburgh
New York
ROOM & OTHER RENT
YEAR ENDING:
Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
Oct
Nov
Dec
TOTAL
$
$
$
$
$
$
$
$
$
$
$
$
$
2008
30,155
38,040
39,846
37,053
52,409
53,455
109,053
103,934
72,233
53,500
29,412
30,975
650,065
$
$
$
$
$
$
$
$
$
$
$
$
$
2009
23,510
28,974
32,309
36,391
52,007
58,728
85,062
98,668
56,079
56,709
34,307
28,157
590,901
$
$
$
$
$
$
$
$
$
$
$
$
$
2010
23,643
26,667
36,680
36,898
47,332
53,477
95,440
95,324
57,749
44,248
31,820
27,765
577,043
EXPENSES
Accounting
Auto & Truck Expenses
Bank Charges
Insurance
Legal Fees
Miscellaneous
Office Expenses
Hotel Supplies
Telephone
Business Travel
Utilities
Cable TV & Internet
Continental Breakfast
Credit Card Services Charge
Water & Sewage
Rubish Removal
Franchise Royalty Fees
Repairs & Maintenance
Payroll
Property Tax
TOTAL EXPENSES
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2008
2,884
1,311
165
21,443
1,436
170
14,718
1,543
1,461
44,186
5,901
3,861
13,251
9,015
4,457
68,695
32,984
133,495
51,067
412,043
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2009
1,906
608
20,058
1,030
2,049
2,164
10,454
1,568
3,940
41,326
4,824
4,060
10,270
6,459
3,205
51,209
14,096
136,578
51,275
367,079
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2010
2,539
1,737
150
19,967
1,481
2,560
1,686
13,667
2,985
1,267
31,999
2,199
3,863
13,649
7,518
4,979
56,713
11,978
135,000
49,479
365,416
NET OPERATING INCOME
$
238,022
$
223,822
$
211,627
ASKING PRICE:
$2,350,000
For further information please contact Agents:
John F. Ciraulo
Craig M. Waggner
Vice Chairman, Partner
[email protected]
212-696-2500 x7700
Director of Sales
[email protected]
212-696-2500 x7744
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any.
The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel
should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
www.masseyknakal.com
THE BRONX
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER