Motel & Diner Investment
State Rte 17 W, Parksville, NY 12768
Hospitality property with 23 rooms, diner, and stream access.
Type:Hospitality
Property size:
6,000 SFLot size:
2.42 AcresPrice / SF:
$199/SF- Added:
- Dec 15, 2022
- Days on Market:
- 1287
- Last Refresh:
- May 19 at 8:57 pm
Property Features for State Rte 17 W
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 2.42 Acres
- Property subtype
- Hospitality
Building Details
- Year Built
- 1950
Listing office Gregory Tarone
Listing date Dec 15, 2022
Source Crexi
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 Gregory Tarone
HighLights
- Owner financing available: 30% down, 70% at 6% interest‑only monthly up to five years, with no prepayment penalty or fees.
- Prime location next to a frequented gas station and diner, attracting truckers and offering growth potential.
- 23 rooms (22 motel rooms plus manager’s apartment) provide immediate income potential.
- Opportunity to expand by placing cabins along the stream border.
- Includes a modular diner and stream with fly fishing access on the Little Beaver Kill Stream.
- Upgraded high‑quality septic system and updated sewer and water.
Overview
The Sullivan Motel & Diner presents an investment opportunity in Parksville, NY. Located at 960 and 968 Parksville Rd, also known as 7234 Route 17 W, the property includes 23 rooms, comprising 22 guest rooms and a manager's apartment. Constructed in 1990, the two-story building offers approximately 6,000 square feet of space on a 2.42-acre lot. The property is zoned C and features a modular diner and a stream, with potential for fly fishing access. The site benefits from an upgraded septic system and the possibility of expansion with cabins along the stream border. The property is currently vacant and requires updating, including repairs to one room damaged by fire. The location is near a frequently visited gas station and diner, which attracts truckers. The property offers potential as a truck stop, motel, and fly fishing destination. The property has updated sewer and water. The seller is offering a First Purchase Money Mortgage without any subrogation rights: 30% down, balance of 70% at 6% interest-only monthly up to five (5) years, with no fees or prepayment penalty.
Local Financial Insights For Specialty Retail
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 | $108.0k | $18.00 |
| − Vacancy | −$4.5k | −$0.76 |
| EGI | $103.5k | $17.24 |
| − OpEx | −$25.9k | −$4.31 |
| NOI | $77.6k | $12.93 |
6,000 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.11M
$970.0K – $1.29M
NOI $77,598 @ 7.0% cap · market cap 6.49%
Second Best
Retail
$1.03M
$905.3K – $1.21M
NOI $72,425 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,200 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Motels
Similar Places Nearby
- New Memories — 862 Parksville Rd, Parksville, NY 12768
Map
- City
- Parksville
- County
- Sullivan
- State
- New York
- Longitude
- -74.7860315
- Latitude
- 41.8616157
FAQs
What type of property is this?
Motel - Hospitality property with 23 rooms, diner, and stream access.
Where is this motel located?
The property is located at State Rte 17 W Parksville, NY.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Owner financing available: 30% down, 70% at 6% interest‑only monthly up to five years, with no prepayment penalty or fees.; Prime location next to a frequented gas station and diner, attracting truckers and offering growth potential.; 23 rooms (22 motel rooms plus manager’s apartment) provide immediate income potential.
