3 Watervliet Avenue Ext, Albany, NY 12206

Carrow Real Estate Services, LLC is pleased to present the opportunity to acquire Albany Plaza, a fully operational, independently run full-service hotel located at 3 Watervliet Avenue Extension in Albany, New York. The property comprises 215 guest rooms situated on a 5.40-acre site, encompassing approximately 115,304 square feet across a 9-story main tower and a 2-story rear building. The improvements are supported by a surface parking lot with over 300 parking spaces, providing ample parking capacity for guests, events, and staff.

Currently operated as an independent (non-franchised) hotel, Albany Plaza offers immediate operational continuity while also presenting flexibility for a new owner to pursue rebranding, soft-brand affiliation, repositioning, or continued independent operation, subject to buyer preference and market strategy.

Strategically positioned with convenient access to Interstate 90, the property benefits from strong regional connectivity and is located just minutes from Downtown Albany, the New York State Capitol, University at Albany (SUNY), major medical centers, and several of the Capital Region's primary employment and institutional hubs. This central location provides consistent demand drivers from government, healthcare, higher education, tourism, and regional business travel.

The hotel's existing improvements include meeting and event space, restaurant and bar areas, indoor and outdoor pools, fitness center, business center, elevators, and additional ancillary facilities, supporting a full-service hospitality operation and providing opportunities for enhanced programming or repositioning.

The property is located within the MU-CH: Community Highway Mixed-Use zoning district, which allows for a wide range of commercial, hospitality, residential, and institutional uses. This flexible zoning designation supports the property's continued use as a hospitality asset while also providing potential for adaptive reuse or redevelopment, subject to municipal approvals and planning considerations. Albany Plaza is a non-union property and is being offered as-is, providing investors and operators with the opportunity to implement operational, branding, or capital improvement strategies to maximize long-term value.

Albany Plaza: +/-115,305 SF, 215-key economy hotel on +/-5.40 acres directly off I-90 (Everett Rd Exit 5) with 90,124 AADT and exceptional visibility. 9-story, fully sprinklered asset with 2 elevators and 300 parking spaces. Built 1972, renovated 2016. Features full-service restaurant & bar, 10,000+ SF meeting/event space, indoor & outdoor pools. Zoned MU-CH (Community Highway) offering significant repositioning or redevelopment potential. Former Ramada, now independently operated, non-union. Rare value-add hospitality opportunity offered at $8,000,000 ($69.38 PSF / $37,209 per key).