Remarks

Brick & Mortar is pleased to exclusively represent the sale of The Colonial Motel in Kerhonkson, NY. This is the first sale of the property in nearly thirty years. 11.2% CAP rate, and a huge upside with development of the Motel and property. 209 is a very busy corridor in NY's Hudson Valley. The property has unlimited potential and sits on a 93.53 acre parcel of land. Potential to greatly expand the hotel into the surrounding property with Eco Cabins, year round Green Homes, or a combination of the two. Envision 40-50 Micro and Eco home/cabins on the property dotted into the woodland behind the motel. There is also the potential to develop the 83 acres behind the motel into year round residences. An access road at the rear of the property could accommodate a development. The hotel, as operating, is comprised of 20 rooms, with 17 additional rooms being built within existing structures. There are two older cottages on the property, and a turn of the century schoolhouse that await your architect. Parking for 26 cars with additional space to expand. The 1965 classically styled motel rooms sit to the right of the drive in and have a retro feel to them. There is also a turn of the century Victorian schoolhouse next to the motel rooms that has many original details including high ceilings, pressed tin throughout, and even the original chalkboard. Great potential with this building to be repurposed as additional hotel rooms, a farm to table restaurant, or a clubhouse for the motel. Additionally, there is a renovated three bedroom, two full bathroom home, which has an office in the front for the motel. Seven buildings in total on the property. Shown by appointment.

Details

MLS#: 11086703
Price: $8,250,000

Style: Commercial Business
Bedrooms: 0
Baths Full: 25
Baths Half: 0
Sq Ft: 8425
Year Built: 1920

County: Ulster
Tax Fee: 15000