Listed by Hanna Commercial Real Estate Buffalo
$849,000
Palm Gardens Motel
Details
APN 143601-349-150-0001-021-000
Property Type Retail, Hospitality
Sub Type Bar, Motel
Square Footage 8,160
Cap Rate 10.00%
Year Built 1955
Buildings 3
Acreage 0.880
Retail | 10.00% CAP | 8,160 SqFt
Investment highlights
- 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
Listing Contacts
Listed by Hanna Commercial Real Estate Buffalo
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