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Hotel-Motel

Hotel Concord Syracuse by Choice

6605 Old Collamer Rd, East Syracuse, NY 13057

Listing Price: $6,800,000

Number of Rooms
109
RevPAR
$46
Gross SF
181,210
Price/Room
$62,385
Price/Gross SF
$37.53
Year Built
1985

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Hotel Concord Syracuse by Choice, 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 Hotel Concord Syracuse by Choice represents the opportunity to acquire an Ascend Hotel Collection by Choice 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, Holiday Inn Express and Hyatt Studios (see Deal Room for more information).

Buyer will receive $525,000 in key money once the PIP is completed.

Investment Highlights

  • Excess Land for Potential Hotel Development
  • Buyer Will Receive $525,000 in Key Money Once the PIP is Completed
  • 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

Hotel Concord Syracuse by Choice

Listing Price: $6,800,000

Number of Rooms
109
RevPAR
$46
Gross SF
181,210
Price/Room
$62,385
Price/Gross SF
$37.53
Year Built
1985

Investment Highlights

  • Excess Land for Potential Hotel Development
  • Buyer Will Receive $525,000 in Key Money Once the PIP is Completed
  • 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 Hotel Concord Syracuse by Choice, 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 Hotel Concord Syracuse by Choice represents the opportunity to acquire an Ascend Hotel Collection by Choice 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, Holiday Inn Express and Hyatt Studios (see Deal Room for more information). Buyer will receive $525,000 in key money once the PIP is completed.

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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