400 Prospect St - Hospitality FOR SALE


Binghamton, NY 13905- First Ward
$6,500,000 USD
415-553-0209
400 Prospect St, Binghamton, NY for Sale
$6,500,000 USD
Hospitality - FOR SALE
1/8
null | 10.45% Cap Rate

400 Prospect St
Binghamton, NY 13905
First Ward


HIGHLIGHTS

  • Proven Cash Flow & Stable Operations
  • Newest Product in Competitive Set
  • Dominant RevPAR Outperformance
  • Multi-Driver Institutional Demand
  • Zero Supply Pipeline

OVERVIEW

Besen Hotel Advisory Group is pleased to present the exclusive offering of the Microtel Inn & Suites by Wyndham Binghamton- a 57-room, interior-corridor economy hotel opened in July 2016 at 400 Prospect Street in Binghamton, New York. The property is offered at $6,500,000, implying a 10.5% trailing cap rate on 2025 net operating income of $679k— at-market vs. the CoStar-confirmed Binghamton market cap rate of 10.3%. The offering presents a clear path to income growth through ADR recovery, occupancy stabilization, and revenue management optimization under new ownership. Access the Data Room: https://platform.reverecre.com/project/0a19724a-de34-4b19-8aa0-67e8d48af52a#overview

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$363 USD /SF

# OF ROOMS

57

PRICE/ROOM

$114,035 {currency}

CAP RATE

10.45%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Microtel Inn & Suites by Wyndham Binghamton

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2016

PARKING SPACES

63

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

GC

APN/PARCEL ID

033089-143-051-0002-001-000-0000

ASK ABOUT THIS PROPERTY

Arjun ShethBesen PartnersMore Info
415-553-0209

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Arjun ShethBesen PartnersMore Info
415-553-0209

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