0 Lakewood Ave Queens, NY 11435

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.