125 N Main ST, Newark, NY 14513
125 N Main ST, Newark, NY 14513
125 N Main ST, Newark, NY 14513
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Khem Kadariya

Khem Kadariya

+1(585) 732-8665
$1,500,000
Est. payment /mo
78,151 SqFt
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 78,151 sqft

Price per Sqft $19

MLS Listing ID R1711180

Construction Status Existing

HOA Y/N No

Year Built 1978

Annual Tax Amount $49,656

Lot Size 2.770 Acres

Acres 2.77

Lot Dimensions 274X419

Property Description

In Newark Village, 107 room hotel available adjacent to the Erie Canal, situated on 2.77 acres. Currently closed but could be reopened immediately. Hotel has approximately 57 rooms that are ready to be rented with the remaining needing minor renovation. Recent roof installed, guaranteed for 5 years. There is a 184 car parking lot in great shape. Hotel offers a spacious banquet room and event room, perfect for weddings, conferences and community gatherings. There is also an in ground, inside pool and hot tub area positioned inside the courtyard area with bottom floor rooms opening up to this space. This central location is walkable to local shops, dining and recreation areas along the Erie Canal. This property is poised for continued profitability and potential restructuring under a national or boutique flag. Situated in the Finger Lakes area, this hotel offers solid cash flow potential with upside for redevelopment or brand affiliation. Hotel qualifies for possible redevelopment opportunities through NYS development Finger Lakes region and Wayne Counties. Partial owner financing may be possible with qualified buyer. Possible pilot program available. Possible financing available from sellers to qualified buyer. Also have estimates available for reference.

Location

State NY

County Wayne

Area Newark-Village-542001

Zoning COM

Rooms

Basement None

Interior

Heating Gas, Other, See Remarks

Cooling Other, See Remarks

Flooring Other, See Remarks

Inclusions Land and Building

Fireplace No

Exterior

Utilities Available Water Connected

Roof Type Membrane,Rubber

Total Parking Spaces 184

Building

Lot Description Rectangular, Rectangular Lot

Story 2

Water Public

Level or Stories Two

Structure Type Frame,Masonry

Construction Status Existing

Schools

School District Newark

Others

Tax ID 542001-068-111-0018-318-101-0000

Acceptable Financing Other, See Remarks

Listing Terms Other, See Remarks

Special Listing Condition Auction

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Listed by Griffith Realty Group

Nearby Locations

Khem Kadariya

Khem Kadariya

Phone

+1(585) 732-8665

Address

333 Metro Park, Rochester, NY 14623, USA

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125 N Main ST