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    400 Center Place Dr Rochester, NY 14615

    Sponsored
    For Sale
    Contact for pricing

    95-key hotel, prime Rochester location

    Property size:
    67,616 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 95-key Homewood Suites by Hilton hotel in Rochester, NY, presents a compelling investment opportunity. Located at 400 Center Place Drive, this five-story, 67,616 square foot property boasts an impressive 83.4% occupancy rate, significantly exceeding the market average of 66.1% in 2023. The hotel underwent extensive renovations in 2021/2022, addressing major aspects of a planned improvement project, with an estimated $800,000 remaining to complete. Amenities include an indoor pool, games room, full-service lounge/bar, BBQ grills, and two meeting rooms (575 SF and 338 SF) accommodating up to 40 guests. Its strategic location, a short 10-minute drive from the airport and near major highways, provides easy access for both business and leisure travelers, further enhanced by its proximity to corporate offices. The Rochester hospitality market shows positive trends, with RevPAR increasing from $85 to $101 in 2023. Current owner-operation presents significant potential for revenue management improvements, with STR analysis indicating opportunities to enhance all property-level fundamentals (Occupancy 117.4%, ADR 115.1%, RevPAR 135.1%). This well-equipped and renovated asset offers investors the chance to streamline expenses and optimize profitability through their own management strategies. The property is offered for sale via a request for proposals.

    Property Features for 400 Center Place Dr

    General Information

    Property type
    Hotels
    Square Feet
    67,616 SF

    Building Details

    Stories
    5

    HighLights

    • Opportunity to reduce operating expenses through efficient management.
    • Recently renovated (2021/2022); $800,000 remaining in planned improvements.
    • Convenient location near major highways, Buffalo, Syracuse, and Rochester airport; close to corporate offices.
    • Strong Rochester hospitality market with occupancy growth (59% to 66.1% since 2020) and RevPAR increase ($85 to $101).
    • High occupancy rate of 83.4%.
    • Significant revenue management upside; current data shows high MPI%, indicating potential for ADR, occupancy, and RevPAR increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Homewood Suites by ... Extended Stay Hotel Rochester hotel Hotel

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6722686
    Latitude
    43.2083844

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    FAQs

    What type of property is this?
    Hotel - 95-key hotel, prime Rochester location
    Where is this hotel located?
    The property is located at 400 Center Place Dr Rochester, NY.
    What are key features of this property?
    This property features: Opportunity to reduce operating expenses through efficient management.; Recently renovated (2021/2022); $800,000 remaining in planned improvements.; Convenient location near major highways, Buffalo, Syracuse, and Rochester airport; close to corporate offices.
    Request Owner's contact information
    400 Center Place Dr Rochester, NY 14615
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    Rochester, NY 14615
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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
    400 Center Place Dr Rochester, NY 14615
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