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Rental Property and Restaurant 6202-6208 State Highway 28

9 Room Hotel Fly Creek, NY 13337 £745,189 (£82,799/Room) 4.42% Net Initial Yield

Investment Highlights

  • Corner building in high traffic area
  • Fully renovated Bar and Restaurant. Best cocktails and beverage selection between Albany and Utica !
  • On site parking

Executive Summary

Operating bar & restaurant business plus four income producing apartment rentals and one more store on 2.7 acre lot.
The building is located in a high traffic area, at the junction of fly creek, across from the general store and on the route between the baseball hall of fame and baseball dreams park. The building is also in minutes walking distance of the Bassett hospital.
The building has on site parking and has benefited from recent upgrades, such as new roof, new paint on the hallways and partial apartment renovations.
Wonderful opportunity for chefs/restaurateurs that want to own their restaurants and have the rents pay the mortgage.

Property Facts

Price £745,189
Price Per Room £82,799
Sale Type Investment
Net Initial Yield 4.42%
Sale Conditions Business Value Included
Property Type Hospitality
Property Subtype
Hotel
Building Class C
Lot Size 2.31 AC
Construction Status Converted
Building Size 22,000 SF
No. Rooms 9
Number of Floors 2
Year Built 1850
Corridor Interior

Room Mix Information

Description No. Rooms Daily Rate SF
Guest Room 9 £48.63 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
365089-114-005-0001-037-000-0000
Land Assessment
£74,284
Improvements Assessment
£189,278
Total Assessment
£263,562

zoning

Zoning Code 01 (commercial zoning.)
01 (commercial zoning.)
  • Listing ID: 31429065

  • Date on Market: 05/04/2024

  • Last Updated:

  • Address: 6202-6208 State Highway 28, Fly Creek, NY 13337

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