Listing Agency: Coldwell Banker Prime Properties Saratoga Springs

Listed By: Cathy Libecci · License #NY

Source: Crexi

Added: May 22, 2024 Changed: Aug 31 Last Checked: Aug 26 at 12:44PM

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Investment Insights

Based on property information with market context.

This is a newly renovated, turn-key 10-unit motel located in Greenwich, New York. Its location is near Saratoga Springs, Vermont, and the Adirondack Mountains. The property is suited for tourists, outdoor enthusiasts, and event-goers. Over the past 3 years, business has tripled due to consistent upgrades and regional tourism. The units feature updated interiors, fresh paint, linens, and fixtures. Capital improvements include a new roof, hot water tanks, and updated mechanicals. The property is suited for an owner-operator or investor looking to step into a thriving business with strong cash flow and future growth potential. The property size is 3000 square feet.

Key Highlights

• Turn‑key, newly renovated 10‑unit motel.
• Strategic location near Saratoga Springs, Vermont, and the Adirondack Mountains.
• Business has tripled in the past 3 years due to consistent upgrades and strong regional tourism.

Property Analytics

Current Use

Motels

Location Intelligence

Trade Area within ½ mile

299

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 12834, NY

6,396

Population

2,996

Households

2.1

Avg Household Size

47

Median Age

29%

College-Educated

95%

High-School Grad

84.6 sq mi

ZIP Area

76

Density / Sq Mi

$82,931

Median Household Income

$49,513

Median Earnings

$1,154

Median Rent

$234,900

Median Home Value

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Similar Off Market Nearby

• Gather — 103 Main St, Greenwich, NY 12834
• Timmins Homestead — 368 co rd 52, greenwich, ny 12834

Frequently Asked Questions

What type of property is this?

Motel - Newly renovated 10-unit motel near Saratoga Springs and Adirondacks.

Where is this motel located?

The property is located at 2624 NY-40 Thomson, NY.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Turn‑key, newly renovated 10‑unit motel.; Strategic location near Saratoga Springs, Vermont, and the Adirondack Mountains.; Business has tripled in the past 3 years due to consistent upgrades and strong regional tourism.