List Search

1630 Central Ave

Albany, NY 12205

$3,400,000

Hotel For Sale  •  67,648 Sq Ft

Property Details

  • Property Type Hotel
  • Total Building Size 67,648 Sq Ft
  • Lot Size 2.42 ac
  • Building Class C
  • Year Built 1981
  • Cap Rate 9.50 %
  • Tenancy Multiple
  • Zoning 45
39 Transit Score
55 Walk Score

Description

This recently updated exterior corridor property boasts 90 guestrooms on the Choice system, plus an additional 10 rooms that are currently used for a managers apartment and storage. The Econolodge has an excellent reputation, and most of the rooms have been renovated to the latest Choice standards. As such, only a minimal PIP will be required for a new franchisee.  The Albany Econolodge has strong financials, due in part to its location, amenities, fitness center, spacious meeting room, warm and inviting lobby and breakfast area.

Highlights

Excellent location
Beautiful Lobby
Spacious Meeting Room
Near to State Capital; SUNY Albany and more
Newly Renovated - minimal PIP

Financial Summary

Cap Rate: 9.50 %

Amenities

  • Air Conditioning
  • Balcony
  • Bus Line
  • Business Center
  • Conferencing Facility
  • Fireplace
  • Microwave
  • Property Manager on Site
  • Breakfast/Coffee Concierge
  • Community-Wide WiFi
  • Multi Use Room
  • Pet-Friendly
  • Workspace

Public Transportation

AirportDriveWalkDistance
Albany International Airport 13 min - 7.5 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Mitchell B. Muroff, Esq. 617-610-7774 Muroff-Daigle Hospitality Group
Mitchell B. Muroff, Esq. 617-610-7774 Muroff-Daigle Hospitality Group