8-Unit Furnished
7377 State Route 20, Waterville, NY 13480
For Sale
$565,000
Furnished accommodations are leased on a mid-term basis, with utilities included.
Property Size2,112 SF
Price / SF$267.52
Days on Market12
Property Features for 7377 State Route 20
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Furnished
Gross Income
Taxes and HOA fees
Annual Taxes
Amenities
on-site laundry
Listing Agency:
The O'Hara Group
(315) 491-6088
Listed By:
Connor Schwartz · License NY #10401355679
(315) 447-8620
Source:
Exprealty
Added: Nov 2
Changed: Nov 10
Last Checked: Nov 12 at 2:06PM
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 The O'Hara Group
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Investment Insights
Based on property information with market context.
This 8-unit motel contains 2,112 square feet and offers four studio apartments alongside four efficiency units. All units are furnished and currently operate under mid-term leases. Utilities are included, and residents have access to on-site laundry facilities.
The property is within 12 miles of Community Memorial Hospital and Colgate University, 13 miles from Hamilton College, and 14 miles from SUNY Morrisville. Wynn Hospital is 19 miles away, while Crouse Hospital and St. Joseph's Hospital are each approximately 45 miles away.
The property is within 12 miles of Community Memorial Hospital and Colgate University, 13 miles from Hamilton College, and 14 miles from SUNY Morrisville. Wynn Hospital is 19 miles away, while Crouse Hospital and St. Joseph's Hospital are each approximately 45 miles away.
Key Highlights
- Eight furnished units: four studio apartments and four efficiency units
- 2,112 square feet
- Mid‑term leases; utilities included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,582
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,640
$351.6K
Cap Rate 7%
$251,171
$251.2K
Cap Rate 9%
$195,356
$195.4K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$34.2K $16.20/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$32.0K $15.14/SF
− OpEx
−$14.4K −$6.81/SF
NOI
$17.6K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,640
Cap Rate 7%
$251,171
Cap Rate 9%
$195,356
Alternative Uses
Best Use
Apartment 5plus
$251.2K
$219.8K – $293.0K
NOI $17,582 @ 7.0% cap · market cap 3.11%
Second Best
Hotel Hospitality
$116.1K
$101.6K – $135.4K
NOI $8,126 @ 7.0% cap · market cap 1.44%
Theoretical Best
Office A
$556.6K
$487.0K – $649.3K
NOI $38,959 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13480, NY
3,231
Population
1,436
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
96%
High-School Grad
54.8 sq mi
ZIP Area
59
Density / Sq Mi
$78,125
Median Household Income
$43,866
Median Earnings
$880
Median Rent
$168,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Motel - Furnished accommodations are leased on a mid-term basis, with utilities included.
Where is this motel located?
The property is located at 7377 State Route 20 Waterville, NY.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Eight furnished units: four studio apartments and four efficiency units; 2,112 square feet; Mid‑term leases; utilities included
