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Hotel-Motel

Red Roof Inn Binghamton

590 Fairview St, Johnson City, NY 13790

Listing Price: $4,850,000

Cap Rate
10.00%
Number of Rooms
102
RevPAR
$43
Gross SF
32,700
Price/Room
$47,549
Price/Gross SF
$148.32
Year Built
1989

Investment Overview

Marcus & Millichap has been retained to exclusively market and offer the Red Roof Inn Binghamton in Johnson City, New York. The hotel is being offered fee simple for $4,850,000 or three times 2024 room revenues and historical revenues prior to renovations. The hotel has 102 rooms with minimal PIP upon transfer and has been realizing double digit increase in occupancy after just completed a full renovation in September of 2023. The Red Roof Binghampton has consistently averaged $1.6 million in room revenues with occupancy above 65 percent and is being offered at three times revenue multiplier with anticipated revenues to exceed $1.7 million in 2024. The hotel is located off of NY 17 with easy access to I-81 and I-86 and receives strong occupancy historically above its comp set in excess of 130 percent market penetration but due to renovation impact had rooms out of order.

Investment Highlights

  • Minimal PIP
  • Completed a Full Renovation in September of 2023
  • Located Off of NY 17 with Easy Access to I-81 and I-86
  • Receives Strong Occupancy Historically
  • Double Digit Year to Date RevPAR Increase - On Pace to Exceed $1.7 Million in Revenues - 2024

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311204479

    New York

Financing By

Hotel-Motel

Red Roof Inn Binghamton

Listing Price: $4,850,000

Cap Rate
10.00%
Number of Rooms
102
RevPAR
$43
Gross SF
32,700
Price/Room
$47,549
Price/Gross SF
$148.32
Year Built
1989

Investment Highlights

  • Minimal PIP
  • Completed a Full Renovation in September of 2023
  • Located Off of NY 17 with Easy Access to I-81 and I-86
  • Receives Strong Occupancy Historically
  • Double Digit Year to Date RevPAR Increase - On Pace to Exceed $1.7 Million in Revenues - 2024

Investment Overview

Marcus & Millichap has been retained to exclusively market and offer the Red Roof Inn Binghamton in Johnson City, New York. The hotel is being offered fee simple for $4,850,000 or three times 2024 room revenues and historical revenues prior to renovations. The hotel has 102 rooms with minimal PIP upon transfer and has been realizing double digit increase in occupancy after just completed a full renovation in September of 2023. The Red Roof Binghampton has consistently averaged $1.6 million in room revenues with occupancy above 65 percent and is being offered at three times revenue multiplier with anticipated revenues to exceed $1.7 million in 2024. The hotel is located off of NY 17 with easy access to I-81 and I-86 and receives strong occupancy historically above its comp set in excess of 130 percent market penetration but due to renovation impact had rooms out of order.

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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