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Palm Gardens Motel 212 Buffalo St 16 Room Hotel Gowanda, NY 14070 $1,185,136 CAD ($74,071 CAD/Room) 10.54% Cap Rate
INVESTMENT HIGHLIGHTS
- Well established and maintained 16-room motel, with bar and separate residence
- 175 feet of frontage on Buffalo Street (Route 438)
- On snowmobile trail, and close to hunting, Zoar Valley hiking trails and waterfalls
- Turnkey operation
- Located in the charming Gowanda Village Historic District with popular cultural events, festivals and entertainment
- Two minutes to Seneca Nation Cattaraugus Territory
EXECUTIVE SUMMARY
Well established and maintained 16-room motel, with bar and separate residence. Turnkey operation. 175 feet of frontage on Buffalo Street (Route 438). Located in the charming Gowanda Village Historic District with popular cultural events, festivals and entertainment. On snowmobile trail, and close to hunting, Zoar Valley hiking trails and waterfalls. Two minutes to Seneca Nation Cattaraugus Territory. Proximate to Holiday Valley & Kissing Bridge ski resorts and Highmark Stadium, home of the Buffalo Bills.
The nearest lodging option within 17 miles. Full, dry basement with voluminous storage capacity. Walk-in cooler, freezer and commercial laundry. Seller may hold mortgage for a qualified buyer. Excellent opportunity for growth. 10% cap rate. Average daily traffic count: 9,942 vehicles.
The nearest lodging option within 17 miles. Full, dry basement with voluminous storage capacity. Walk-in cooler, freezer and commercial laundry. Seller may hold mortgage for a qualified buyer. Excellent opportunity for growth. 10% cap rate. Average daily traffic count: 9,942 vehicles.
PROPERTY FACTS
| Price | $1,185,136 CAD | Lot Size | 0.88 AC |
| Price Per Room | $74,071 CAD | Building Size | 9,889 SF |
| Sale Type | Investment | No. Rooms | 16 |
| Cap Rate | 10.54% | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 1953 |
| Property Subtype | Hotel | Parking Ratio | 2.93/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Price | $1,185,136 CAD |
| Price Per Room | $74,071 CAD |
| Sale Type | Investment |
| Cap Rate | 10.54% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 9,889 SF |
| No. Rooms | 16 |
| No. Stories | 1 |
| Year Built | 1953 |
| Parking Ratio | 2.93/1,000 SF |
| Corridor | Exterior |
AMENITIES
- On-Site Bar
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 16 | $108.88 CAD | - |
1 1
PROPERTY TAXES
| Parcel Number | 143601-349-150-0001-021-000 | Improvements Assessment | $430,831 CAD |
| Land Assessment | $8,417 CAD | Total Assessment | $439,248 CAD |
PROPERTY TAXES
Parcel Number
143601-349-150-0001-021-000
Land Assessment
$8,417 CAD
Improvements Assessment
$430,831 CAD
Total Assessment
$439,248 CAD
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Palm Gardens Motel | 212 Buffalo St
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