125 N Main St Newark, NY 14513
Property Features for 125 N Main St
General Information
- Property type
- Commercial
- Standard status
- Active
- Lot size
- 2.77 Acres
Building Details
- Year built
- 1978
Source:
Elliman
Listing Agent: Jon J. Bagley
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
107-Room Hotel Near Erie Canal
Located in Newark Village, this 107-room hotel is situated on 2.77 acres adjacent to the Erie Canal. The property, currently closed, is ready for immediate reopening. Approximately 57 rooms are ready for rental, while the remaining rooms require minor renovation. A recently installed roof comes with a 5-year guarantee. The hotel features a 184-car parking lot. It includes a spacious banquet room and event room suitable for weddings, conferences, and community gatherings. An in-ground, indoor pool and hot tub area are located inside the courtyard, with bottom-floor rooms opening to this space. The central location allows for walking access to local shops, dining, and recreation areas along the Erie Canal. The property is positioned for continued profitability and potential restructuring under a national or boutique flag. Situated in the Finger Lakes area, the hotel offers solid cash flow potential with upside for redevelopment or brand affiliation. The hotel qualifies for possible redevelopment opportunities through NYS development in the Finger Lakes region and Wayne Counties.
Location Intelligence
Current Use by Public Records
Hotels
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Wayne
- State
- New York
- Longitude
- -77.094668
- Latitude
- 43.048085
Nearby Similar for Sale
FAQs
What type of property is this?
Hotel - Hotel with banquet room, pool, and redevelopment potential.
Where is this hotel located?
The property is located at 125 N Main St Newark, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: - 57 rooms are immediately rentable, with minor renovations needed for others, ensuring immediate income.; - Large 184-car parking lot is in great shape.; - Recent roof installation with a 5-year guarantee.
