125 Main StNewark, NY 14513

Property Details for 125 Main St

Year built

1980

Lot size

2.77 AC

Property size (Sq ft)

67,100 SF

Zone code

B2

Property type

Motels

APN

542001 68111-18-318101

APU

5420016811118318101

Description

This exceptional 67,100 square foot full-service hotel presents a unique investment opportunity in the heart of Newark, NY. Boasting 107 guest rooms, an on-site bar and restaurant, and extensive banquet facilities, this established property enjoys a long history of success. Situated on a 2.77-acre parcel with newly repaved parking for approximately 200 vehicles, the hotel offers convenient water access along the picturesque Erie Canal. Detailed plans are available for review, outlining a potential flag conversion to a Wyndham Garden Inn, showcasing the property's significant upside. The property's prime location in the Village of Newark, the largest municipality in Wayne County and part of New York's renowned Finger Lakes Region, ensures strong visibility and accessibility. This substantial property offers limitless potential for continued operation as a thriving hotel or presents an attractive site for redevelopment, catering to a variety of uses. The seller is open to considering all offers, making this a compelling investment prospect for discerning buyers. The property's size, amenities, and location combine to create a truly exceptional opportunity within a vibrant and growing market. The existing infrastructure and established clientele provide a solid foundation for future growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $12,307,352

  6.5%

  $11,360,632

  7%

  $10,549,159

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,405,815

  Geo Method

  $20,603,122

• Alternative Use

  Use

  Valuation

  Residential

  $12,402,510

  Hospitality

  $11,360,632

  Educational

  $9,451,913

  Medical

  $9,776,979

  Retail

  $14,702,975

Location Insight

City

Newark

County

Wayne

State

New York

Latitude

43.048

Longitude

-77.0962

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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