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563 Boston Post Road - Blue Anchor Motel, Waterford, CT

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563 Boston Post Road - Blue Anchor Motel

Waterford, CT 06385 - New London Submarket

Property Type:Hospitality Number of Rooms:12 Status:Existing Year Built:1960
Stories:2 Building Size:5,200 SF Land Area:1.72 AC (74,923 SF)
For Sale Price:$549,000 Price/Room:$45,750 Cap Rate:8.60 %

Parking:1.25 Parking Spaces / 1,000 SF

Sale Notes:
Offered for sale: this quintessential New England hotel/motel. The property contains 12-rooms and could be transitioned into a quaint Bed & Breakfast or remain the same ongoing operation. It offers a great convenient location located at a mid-point for people to exploring our quaint southeastern CT shoreline and its many activities. The current operation boasts a 50K NOI and in the right hands this could be grown to a handsome return. Showing by appointment only. At the current 60% occupancy the business operation has a 50K NOI. With a creative blend of improvements, TLC and some hard work this could be grown into a thriving operation once again. the current ownership does very little to no advertising yet attains a good yield.

This property is located conveniently to I-95 with a central location along the Southeastern CT shoreline and its many activities which include fine dining, boating, the CT wine trail, Mohegan Sun and Foxwoods casinos with their offerings of world class entertainment to mention a few assets of the surrounding area.

Coldwell Banker Real Estate & Mortgage Services
Michael Franklin
(877) 923-9850

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