200 3Rd StJamestown, NY 14701

Property Details for 200 3Rd St

Year built

1970

Lot size

1.47 AC

Property size (Sq ft)

58,905 SF

Property type

Office properties

Property subtype

Office buildings

APN

060800 387.41-2-8

APU

608003874128

Description

This 62-room La Quinta Inn & Suites in Jamestown, New York, presents a compelling investment opportunity. Boasting 33,749 square feet across a three-story building on a 0.7-acre lot, this fully renovated hotel offers significant potential for return. The 2023 renovation, exceeding $2 million, modernized the infrastructure and guest experience, including 62 well-appointed guest rooms with amenities such as flat-screen HDTVs, mini-refrigerators, and microwaves. Hotel amenities include a breakfast area, indoor pool, fitness center, sundry shop, and business center. The property benefits from a convenient location, minutes from downtown attractions like the Lucille Ball Desi Arnaz Museum and the National Comedy Center, as well as Lake Erie Wine Country. With 37 parking spaces and a strong revenue stream exceeding $1.1 million annually, this hotel offers a turnkey operation. Seller financing is available. The property is zoned commercial and features an interior corridor design. No post-acquisition improvement plan (PIP) is anticipated. The property's APN is 387.40-2-45

• CAP approach

  CAP return

  Valuation

  6%

  $11,298,229

  6.5%

  $10,429,135

  7%

  $9,684,196

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,762,757

  Geo Method

  $11,777,466

• Alternative Use

  Use

  Valuation

  Residential

  $12,932,127

  Hospitality

  $11,845,759

  Educational

  $9,855,532

  Medical

  $10,194,479

  Retail

  $15,330,828

Location Insight

City

Jamestown

County

Chautauqua

State

New York

Latitude

42.0967

Longitude

-79.2385

CBSA code

27460

CBSA name

JAMESTOWN-DUNKIRK-FREDONIA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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