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20 W Housatonic St
Pittsfield, MA 01201

$2,570,000

Hotel For Sale  •  13,633 Sq Ft

Property Details

  • Property Type Hotel
  • Total Building Size 13,633 Sq Ft
  • Lot Size 1.85 ac
  • Building Class B
  • Year Built 1986
  • Cap Rate 13.38 %
  • Tenancy Single
  • Zoning RM
20 Transit Score
89 Walk Score

Description

The Yankee Suites Extended Stay is located in a Federal Opportunity Zone which presents significant tax advantages for a new Buyer. This beautiful property was originally built for residential use and could be converted back if a buyer wished to do so. The hotel is easily managed with minimal staff due to it's high occupancy and low turnover of guest-suites. It can be managed remotely or by an Owner -Operator and has tremendous potential to increase both the rate and occupancy with increased sales and marketing efforts and yield management. The current Ownership group has continued to pour money into the property with design upgrades and capital expenditure including a recent $50,000 upgrade to the parking lot. This is an exceptional opportunity to enter the extended stay market in the center of Pittsfield - the commercial hub of the Berkshires, and minutes to one of the premier vacation spots in the Northeast.  Check out the DroneBase Video Link:  https://clients.dronebase.com/m/964acc459aa5b42c6951f35d2f785314

Highlights

Family Rooms and choice of King, Queens and Double Suites; full kitchens in all Suites
Close to all the Berkshires have to offer; Tanglewood, Stockbridge, Lenox and Lee
Extended stay apartments
Customer mix: business, leisure, transient and senior
High occupancy and solid rates

Financial Summary

Cap Rate: 13.38 %

Major Tenants

Tenant SF Occupied Lease End Date
Yankee Suites Extended Stay

Amenities

  • Air Conditioning
  • Balcony
  • Bus Line
  • Business Center
  • Commuter Rail
  • Courtyard
  • Fireplace
  • Fitness Center
  • Laundry Facilities
  • Microwave
  • Property Manager on Site
  • Security System
  • Kitchen
  • Oven
  • Storage Space
  • Community-Wide WiFi
  • Multi Use Room
  • Flat Screen TVs
  • Iron
  • Pet-Friendly
  • Workspace

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