3186 Andover RdWellsville, NY 14895

Property Details for 3186 Andover Rd

Year built

1959

Lot size

2.80 AC

Property size (Sq ft)

7,038 SF

Zone code

01 - NOT ZONED

Property type

Motels

APN

027089 226.-1-20

APU

27089226120

Description

This 20-key motel in Wellsville, NY presents a compelling investment opportunity. The 7,038 square foot property, built in 1959 and extensively renovated in 2024, boasts a strong 11.40% cap rate and a net operating income (NOI) of $105,444. Priced at $925,000 ($131.43/sq ft and $46,250/key), this stabilized investment offers significant potential. The motel features 30 beds across its 20 rooms and includes a large owner/manager suite. Situated on a 2.96-acre lot at 3186 Andover Rd, Wellsville, NY 14895, the property benefits from a high daily traffic count of 3,798 vehicles. Its strategic location near Alfred State College, Alfred University, and Houghton University ensures a consistent stream of guests. Furthermore, its proximity to the large Ljungström Headquarters across the street provides additional visibility and access to amenities. The property includes ample parking with 21 spaces per key. This is a rare opportunity to acquire a well-maintained, high-performing motel in a desirable location with strong growth potential. The permitted zoning is 01-NOT Z.

• CAP approach

  CAP return

  Valuation

  6%

  $1,450,012

  6.5%

  $1,338,473

  7%

  $1,242,868

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,582,264

  Geo Method

  $1,040,487

• Alternative Use

  Use

  Valuation

  Residential

  $1,461,224

  Hospitality

  $1,338,473

  Educational

  $1,113,594

  Medical

  $1,151,892

  Retail

  $1,732,257

Location Insight

City

Wellsville

County

Allegany

State

New York

Latitude

42.1345

Longitude

-77.9123

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].