Skip to main content

Hotel-Motel

Binghamton / Apalachin NY Hotel Portfolio

7666 NY-434, Apalachin, NY 13732

Listing Price: Request For Offer

Number of Rooms
52
RevPAR
$48
Year Built
2013

Investment Overview

Unique opportunity to acquire 103 key portfolio significantly below replacement cost in a high barrier to entry market with great potential upside. Marcus & Millichap's Duong Hospitality Group is proud to present a unique hotel investment opportunity in Apalachin NY. Offered for sale individually or as a portfolio are the Comfort Inn & Suites Apalachin NY and the former Quality Inn & Suites Apalachin. Located off exit 66 of the Southern Tier Expressway (NY-17/Future I-86) on the banks of the Susquehanna River 12 Miles from Binghamton NY, 6 miles from Owego NY and 5 miles from the Pennsylvania state line the property benefits from a traffic count of over 41,000 cars per day. Comfort Inn Apalachin was built in 2013 with 52 guest rooms and in 2021 was updated and reflagged as a Comfort Inn after being independent since 2019. Historic revenues of $1m+ from a mix of business travelers, casino guests and highway traffic and long-term stays from local employer Lockheed Martin and Oil & Gas operators. The former Quality Inn Apalachin was built in 2009 with 51 guest rooms and has been closed after a water line froze in 2017. The property has recently been repaired and cleaned and is ready for a cosmetic renovation. There are multiple hotel conversion flags available such as Red Roof Plus with an estimated PIP of around $9,000/Key. A previous appraisal valued the building at $3.6m vacant and over $7.0m with stabilized revenue. This very well-built building would also make an excellent conversion for multiple housing uses. *Properties are for sale individually or as a portfolio.

Investment Highlights

  • Historic Revenues Over $1m @ $60 RevPar (NY Comfort Hotels Average $64+ 2019)
  • 2021 Repairs / Improvements, Soft Good, Patio, Rooms Painted
  • Offered Below Replacement Cost

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311205789

    New York

Financing By

Hotel-Motel

Binghamton / Apalachin NY Hotel Portfolio

Listing Price: Request For Offer

Number of Rooms
52
RevPAR
$48
Year Built
2013

Investment Highlights

  • Historic Revenues Over $1m @ $60 RevPar (NY Comfort Hotels Average $64+ 2019)
  • 2021 Repairs / Improvements, Soft Good, Patio, Rooms Painted
  • Offered Below Replacement Cost

Investment Overview

Unique opportunity to acquire 103 key portfolio significantly below replacement cost in a high barrier to entry market with great potential upside. Marcus & Millichap's Duong Hospitality Group is proud to present a unique hotel investment opportunity in Apalachin NY. Offered for sale individually or as a portfolio are the Comfort Inn & Suites Apalachin NY and the former Quality Inn & Suites Apalachin. Located off exit 66 of the Southern Tier Expressway (NY-17/Future I-86) on the banks of the Susquehanna River 12 Miles from Binghamton NY, 6 miles from Owego NY and 5 miles from the Pennsylvania state line the property benefits from a traffic count of over 41,000 cars per day. Comfort Inn Apalachin was built in 2013 with 52 guest rooms and in 2021 was updated and reflagged as a Comfort Inn after being independent since 2019. Historic revenues of $1m+ from a mix of business travelers, casino guests and highway traffic and long-term stays from local employer Lockheed Martin and Oil & Gas operators. The former Quality Inn Apalachin was built in 2009 with 51 guest rooms and has been closed after a water line froze in 2017. The property has recently been repaired and cleaned and is ready for a cosmetic renovation. There are multiple hotel conversion flags available such as Red Roof Plus with an estimated PIP of around $9,000/Key. A previous appraisal valued the building at $3.6m vacant and over $7.0m with stabilized revenue. This very well-built building would also make an excellent conversion for multiple housing uses. *Properties are for sale individually or as a portfolio.

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    (212) 430-5100

    License(s): NY: 10311205789

    New York

Financing By

MM Texture Background
MM Textured Background Lower