930 1St StFulton, NY 13069

Property Details for 930 1St St

Year built

1987

Lot size

4.44 AC

Property size (Sq ft)

37,130 SF

Zone code

C2

Property type

Hospitality properties

Property subtype

Motels

APN

350400 253.51-01-01

APU

350400253510101

Description

Exceptional opportunity to acquire the fee-simple interest in a thriving 70-room Red Roof Inn located in Fulton, New York. This well-maintained hotel, built in 1987 and boasting 37,130 square feet on a 4.44-acre lot, features a recently completed upgrade to the latest Red Roof Inn design package, including new LTV flooring throughout. The property includes 130 parking spaces and convenient amenities such as an outdoor patio, a meeting room, and a unique boat dock situated along the Oswego River. The hotel benefits from a strong location, just 20 minutes north of Syracuse Hancock International Airport and 15 minutes south of Oswego and Lake Ontario. Its proximity to the new Micron plant, creating 55,000 jobs, ensures strong future demand. The property generates approximately $800,000 in annual revenue and currently includes a separately leased restaurant generating $48,000 annually, with no operational responsibilities for the hotel owner. Minimal capital improvements are anticipated for the new owner. The hotel is zoned for commercial use and has a two-story building. This is a turnkey operation with significant upside potential. Asking price: $3,200,000. APN: 253.51-01-01.

• CAP approach

  CAP return

  Valuation

  6%

  $6,810,312

  6.5%

  $6,286,442

  7%

  $5,837,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,971,504

  Geo Method

  $11,400,804

• Alternative Use

  Use

  Valuation

  Residential

  $6,862,968

  Hospitality

  $6,286,442

  Educational

  $5,230,246

  Medical

  $5,410,122

  Retail

  $8,135,938

Location Insight

City

Fulton

County

Oswego

State

New York

Latitude

43.307

Longitude

-76.3977

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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