Turnkey 10-Unit Motel
2624 State Route 40 Greenwich, NY 12834
For Sale
$499,000
Well-maintained, turnkey 10-unit motel on State Route 40 offering immediate income potential.
Property Size4,500 SF
Price / SF$110.89
Days on Market146
Property Features for 2624 State Route 40
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1990
Listing Agency:
Realty One Group Key
Listed By:
Ryan Mortka
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Mar 1
Changed: Jul 25
Last Checked: Jul 25 at 11:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One Group Key
Investment Insights
Based on property information with market context.
This turnkey 10-unit motel is offered for sale as a well-maintained hospitality property with immediate income potential. The asset is positioned for an owner-operator or hospitality investor seeking a manageable property with room for operational refinement.
Located on State Route 40 in Greenwich, NY, the property serves travelers and visitors coming to Washington County and the surrounding regional tourism and recreation market. The location is described as convenient to Saratoga Springs and Rensselaer County.
The offering is presented as a practical investment opportunity, with potential to increase revenue through operational improvements and adjustments to rates, as well as expanded short-term rental marketing.
Located on State Route 40 in Greenwich, NY, the property serves travelers and visitors coming to Washington County and the surrounding regional tourism and recreation market. The location is described as convenient to Saratoga Springs and Rensselaer County.
The offering is presented as a practical investment opportunity, with potential to increase revenue through operational improvements and adjustments to rates, as well as expanded short-term rental marketing.
Key Highlights
- Turnkey 10‑unit motel investment with immediate income potential
- Well‑maintained property built in 1990
- Located on State Route 40 in Greenwich, NY
Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.5k | $15.00 |
| − Vacancy | −$30.4k | −$6.75 |
| EGI | $37.1k | $8.25 |
| − OpEx | −$19.5k | −$4.33 |
| NOI | $17.6k | $3.92 |
4,500 SF · lease $15.00/SF/yr · vacancy 45.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$251.9K
$220.4K – $293.9K
NOI $17,634 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$976.9K – $1.30M
NOI $78,149 @ 7.0% cap · market cap 15.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Motels
Similar Off Market Nearby
- Sunshine Inn — 2624 NY-40, Greenwich, NY 12834
- Battenkill Community Center — 2530 NY-40, Greenwich, NY 12834
FAQs
What type of property is this?
Motel - Well-maintained, turnkey 10-unit motel on State Route 40 offering immediate income potential.
Where is this motel located?
The property is located at 2624 State Route 40 Greenwich, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Turnkey 10‑unit motel investment with immediate income potential; Well‑maintained property built in 1990; Located on State Route 40 in Greenwich, NY
