3 Watervliet Avenue Ext - Hospitality FOR SALE


Albany, NY 12206- West Hill
$8,000,000 USD
518-788-7206
3 Watervliet Avenue Ext, Albany, NY for Sale
$8,000,000 USD
Hospitality - FOR SALE
1/53
null | Request Cap Rate

3 Watervliet Avenue Ext
Albany, NY 12206
West Hill


HIGHLIGHTS

  • Former Ramada, now independently operated, non-union
  • 90,124 AADT: Exceptional Visibility
  • PRICED TO SELL at only $69.38 PSF / $37,209 per key

OVERVIEW

Albany Plaza: +/-115,305 SF, 215-key economy hotel on +/-5.40 acres directly off I-90 (Everett Rd Exit 5) with 90,124 AADT and exceptional visibility. 9-story, fully sprinklered asset with 2 elevators and 300 parking spaces. Built 1972, renovated 2016. Features full-service restaurant & bar, 10,000+ SF meeting/event space, indoor & outdoor pools. Zoned MU-CH (Community Highway) offering significant repositioning or redevelopment potential. Former Ramada, now independently operated, non-union. Rare value-add hospitality opportunity offered at $8,000,000 ($69.38 PSF / $37,209 per key).

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$69 USD /SF

# OF ROOMS

215

PRICE/ROOM

$37,209 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Albany Plaza: 215 Room Hotel on +/-5.40 Acres

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

9

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1972

PARKING SPACES

300

LAND DETAILS

LAND ACRES

5.4 AC

LAND SF

235,224 SF

ZONING

MU-CH

APN/PARCEL ID

010100-053-076-0001-003-000-0000

ASK ABOUT THIS PROPERTY

Amber HensleyCarrow Real Estate ServicesMore Info
518-788-7206

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Amber HensleyCarrow Real Estate ServicesMore Info
518-788-7206

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.