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Hotel-Motel

Best Western Plus Syracuse Inn

6605 Old Collamer Rd, East Syracuse, NY 13057

Listing Price: $6,500,000

Number of Rooms
109
RevPAR
$46
Gross SF
181,210
Price/Room
$59,633
RRM
3.70
Price/Gross SF
$35.87
Year Built
1985

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Best Western Plus East Syracuse Inn, a four-story limited service hotel conveniently located off of Interstate 90 in Syracuse, New York. The hotel's 109 guest rooms include a flat-screen TV, work desk, refrigerator, microwave and coffee maker. Hotel amenities include electrical vehicle charge point stations, meeting space, business center, fitness center and complimentary breakfast.

Syracuse is home to Syracuse University, which is a major educational and research institution. The university attracts, faculty, and researchers, leading to demand for housing, services and related businesses. The city has several hospitals including SUNY Upstate Medical University, the only academic medical center in Central New York and the region's largest employer.

The Best Western Plus East Syracuse Inn represents the opportunity to acquire a Best Western branded hotel in a desirable market near several demand drivers. Our analysis assumes conservative operational efficiencies, then continued modest growth supported by the increasing population and demand growth in the Central New York region.

The Property has excess land for and preliminary plans to build a second hotel site. Brand opportunities include Tru by Hilton, WoodSprings Suites by Choice, EverHome Suites by Choice and Holiday Inn Express (see Deal Room for more information).

Spark by Hilton and Garner from IHG are likely available for the existing hotel. The Hotel was built as a Hampton in 1985 and underwent a mulit-million dollar renovation in 2018 when it entered the Best Western system.

Investment Highlights

  • Sale Price of 3.5x The Revenue
  • Opportunity to Convert to Garner by IHG and Build a Holiday Inn Express on the Additional Land
  • Ideally Located off of Interstate 90 & 481
  • The Syracuse MSA has a Population of 650,000 People
  • Micron Technology, Inc Announced a $100 Billion Plan for a New Facility Near Syracuse
  • 5 Miles to Syracuse University, a Renowned Global Research University
  • 6 Miles to Syracuse Hancock International Airport (1.3M+ Passengers in 2022)
  • Near Several Major Hospitals Including SUNY Upstate Medical University, St. Joseph's Health Hospital and Crouse Hospital

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311204479

    New York

Financing By

Hotel-Motel

Best Western Plus Syracuse Inn

Listing Price: $6,500,000

Number of Rooms
109
RevPAR
$46
Gross SF
181,210
Price/Room
$59,633
RRM
3.70
Price/Gross SF
$35.87
Year Built
1985

Investment Highlights

  • Sale Price of 3.5x The Revenue
  • Opportunity to Convert to Garner by IHG and Build a Holiday Inn Express on the Additional Land
  • Ideally Located off of Interstate 90 & 481
  • The Syracuse MSA has a Population of 650,000 People
  • Micron Technology, Inc Announced a $100 Billion Plan for a New Facility Near Syracuse
  • 5 Miles to Syracuse University, a Renowned Global Research University
  • 6 Miles to Syracuse Hancock International Airport (1.3M+ Passengers in 2022)
  • Near Several Major Hospitals Including SUNY Upstate Medical University, St. Joseph's Health Hospital and Crouse Hospital

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Best Western Plus East Syracuse Inn, a four-story limited service hotel conveniently located off of Interstate 90 in Syracuse, New York. The hotel's 109 guest rooms include a flat-screen TV, work desk, refrigerator, microwave and coffee maker. Hotel amenities include electrical vehicle charge point stations, meeting space, business center, fitness center and complimentary breakfast. Syracuse is home to Syracuse University, which is a major educational and research institution. The university attracts, faculty, and researchers, leading to demand for housing, services and related businesses. The city has several hospitals including SUNY Upstate Medical University, the only academic medical center in Central New York and the region's largest employer. The Best Western Plus East Syracuse Inn represents the opportunity to acquire a Best Western branded hotel in a desirable market near several demand drivers. Our analysis assumes conservative operational efficiencies, then continued modest growth supported by the increasing population and demand growth in the Central New York region. The Property has excess land for and preliminary plans to build a second hotel site. Brand opportunities include Tru by Hilton, WoodSprings Suites by Choice, EverHome Suites by Choice and Holiday Inn Express (see Deal Room for more information). Spark by Hilton and Garner from IHG are likely available for the existing hotel. The Hotel was built as a Hampton in 1985 and underwent a mulit-million dollar renovation in 2018 when it entered the Best Western system.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s): NY: 10311204479

    New York

Financing By

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