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    Lakewood Ave Queens, NY 11435

    Sponsored
    For Sale
    $25,000,000

    86-key Marriott, high NOI, strong ROI.

    Property size:
    28,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 86-key Marriott hotel presents a lucrative investment opportunity near John F. Kennedy International Airport in Queens, New York. Built and renovated in 2024, this nine-story property boasts approximately 28,000 to 32,000 square feet on a 7,500 square foot lot, zoned C4-5X. The hotel currently enjoys an 80% occupancy rate, projecting a September 1, 2024 occupancy date, generating a current NOI of $1,800,000 and a pro-forma NOI of $2,000,000. This translates to a current cap rate of 7.20% and a pro-forma cap rate of 8.00%. The asking price is $25,000,000, representing a price per key of $290,697.67 and a land value of $600 to $800 per square foot. The property includes 10 parking spaces. This is a non-unionized hotel, offering significant potential for increased profitability. The property is offered as an owner/user investment. This prime location near JFK Airport ensures consistent high demand and strong revenue streams. The property is free and clear of any ground lease. Serious inquiries only.

    Property Features for 0 Lakewood Ave

    General Information

    Property type
    Hotels
    Square Feet
    28,000 SF

    Building Details

    Year Built/Renovated
    2024/2024
    Buildings
    1
    Stories
    9

    HighLights

    • 86‑key Marriott hotel near JFK Airport in Queens, NY.
    • Newly built and renovated in 2024, nine‑story building with approximately 28,000‑32,000 square feet on a 7,500 square foot lot, C4‑5X zoning.
    • Currently boasts 80% occupancy, projecting $1.8M current NOI and $2M pro‑forma NOI.
    • Asking price: $25,000,000, representing a current cap rate of 7.20% and a pro‑forma cap rate of 8.00%.
    • Price per key: $290,697.67; land value: $600-$800 per square foot; 10 parking spaces.
    • Non‑unionized hotel, fee‑simple ownership, strong revenue potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Map

    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.8034788
    Latitude
    40.6897187

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    FAQs

    What type of property is this?
    Hotel - 86-key Marriott, high NOI, strong ROI.
    Where is this hotel located?
    The property is located at Lakewood Ave Queens, NY.
    What is the asking price?
    The asking price for this property is $25,000,000.
    What are key features of this property?
    This property features: 86-key Marriott hotel near JFK Airport in Queens, NY.; Newly built and renovated in 2024, nine-story building with approximately 28,000-32,000 square feet on a 7,500 square foot lot, C4-5X zoning.; Currently boasts 80% occupancy, projecting $1.8M current NOI and $2M pro-forma NOI.
    Request Owner's contact information
    Lakewood Ave Queens, NY 11435
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    Queens, NY 11435
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Lakewood Ave Queens, NY 11435
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