0 Lakewood AveQueens, NY 11435
For Sale
$25,000,000
86-key Marriott, high NOI, strong ROI.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 125
Highlights
- 86-key Marriott hotel near JFK Airport in Queens, NY.
- Newly built and renovated in 2024, nine-story building with approximately 28,000-32,000 square feet on a 7,500 square foot lot, C4-5X zoning.
- Currently boasts 80% occupancy, projecting $1.8M current NOI and $2M pro-forma NOI.
- Asking price: $25,000,000, representing a current cap rate of 7.20% and a pro-forma cap rate of 8.00%.
- Price per key: $290,697.67; land value: $600-$800 per square foot; 10 parking spaces.
- Non-unionized hotel, fee-simple ownership, strong revenue potential.
Property Details for 0 Lakewood Ave
- Property type
- Hospitality properties, Hotels
- Square Feet
- 28,000 SF
- Year Built/Renovated
- 2024/2024
- Buildings
- 1
- Stories
- 9
Location Insight
- City
- Queens
- County
- Queens
- State
- New York
- Latitude
- 40.6897187
- Longitude
- -73.8034788
Lakewood Ave, Queens, New York
Nearby Similar for Sale
FAQs
- What type of property is this?
- Hospitality property - 86-key Marriott, high NOI, strong ROI.
- Where is the hospitality property located?
- The property is located at Lakewood Ave Queens, NY.
- What is the asking price?
- The asking price for this property is $25,000,000.
- What are key features of this property?
- This property features: 86-key Marriott hotel near JFK Airport in Queens, NY.; Newly built and renovated in 2024, nine-story building with approximately 28,000-32,000 square feet on a 7,500 square foot lot, C4-5X zoning.; Currently boasts 80% occupancy, projecting $1.8M current NOI and $2M pro-forma NOI.
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