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64 Chestnut St
Cooperstown, NY 13326

$2,699,000

Single Room Occupancy Hotel For Sale  •  11,643 Sq Ft

Property Details

  • Property Type Single Room Occupancy Hotel
  • Total Building Size 11,643 Sq Ft
  • Lot Size 1.95 ac
  • Building Class C
  • Year Built 1856
  • Cap Rate 9.67 %
  • Tenancy Single
  • Zoning R3
0 Transit Score
74 Walk Score

Description

Cooperstown! For most of us, Cooperstown is synonymous with the Baseball Hall of Fame and indeed visitors to the Hall of Fame are the sugarplums that dance in the heads of Innkeepers in the area. But there is much, much more. The Glimmerglass Opera brings a different clientele to Cooperstown. The Farmer’s Museum and the Fenimore Art Museum add to the flow of visitors, as does Otsego Lake. The celebrated Ommegang Brewery and numerous wineries add to the mix. TripAdvisor recognizes 30 Bed and Breakfasts in the area, but the Landmark Inn has enjoyed a three year, uninterrupted run as the #1 Bed and Breakfast in Cooperstown. Frosting on the cake for new owners is a recently constructed, luxurious three bedroom, two bath owner’s home right behind the Inn, giving Innkeepers the sanity-separation needed from any business.

Highlights

#1 Bed and Breakfast in Cooperstown
Visibility and Ample Guest Parking
Strong Sales History

Financial Summary (Actual)

Net Operating Income: $261,091 (2018)
Cap Rate: 9.67 %

Major Tenants

Tenant SF Occupied Lease End Date
Landmark Inn

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 16
Type: Surface
Included in Rent: Yes
Bill Oates 877-957-2360 Inn Consulting Partners
Bill Oates 877-957-2360 Inn Consulting Partners