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125 N Main St Newark, NY 14513

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For Sale
$1,500,000

Hotel with banquet room, pool, and redevelopment potential.

Lot size:
2.77 Acres

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

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Listing Contact
Jon J. Bagley
Source: Elliman

Listing Agent: Jon J. Bagley

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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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

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Newark
County
Wayne
State
New York
Longitude
-77.094668
Latitude
43.048085

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.
More about this property
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