No photo available
Mar 28, 2020 — Prime Location on Long Island, New York. 60 room Independent motel on very busy major highway with 70,000 vehicle-per-day traffic. Plot size is 2.4 acres. Hot Sheet Motel. Low property taxes in very business friendly township. Appx. 1 acre of property is vacant land that is zoned for Hotel/Motel/Retail. Revenues in 2017 were appx. $1,300,000 with NOI of $600,000. Purchaser can have County designate motel as homeless shelter and receive guaranteed County payment(s) of $100/room/night per shelteree. Potential for $6000/Day or $180,000/month or $2,160,000/year. NOI would be above $1,000,000/year. County has over 1000 homeless people waiting for beds. Adjacent 1 acre parcel can be developed in to hotel/motel/retail. Land value alone is over $5 Million. JFK airport 20 minutes away.
Disclaimer: DealStream has not independently verified any of the information in this post and makes no warranty as to its accuracy or completeness.