3186 Andover Rd Wellsville, NY 14895-9551
- Motels
- 7,038 SF
- 2.80 lot acres
Current Use by Public Records
- Best Inn / Hotel / Inn
Property Details for 3186 Andover Rd
- Year built
- 1959
- Lot size
- 2.80 lot acres
- Property size
- 7,038 SF
- Zone code
- 01 - NOT ZONED
- Property type
- Motels
- APN
- 027089 226.-1-20
- APU
- 27089226120
Description
This 20-key motel in Wellsville, NY presents a compelling investment opportunity. The 7,038 square foot property, built in 1959 and extensively renovated in 2024, boasts a strong 11.40% cap rate and a net operating income (NOI) of $105,444. Priced at $925,000 ($131.43/sq ft and $46,250/key), this stabilized investment offers significant potential. The motel features 30 beds across its 20 rooms and includes a large owner/manager suite. Situated on a 2.96-acre lot at 3186 Andover Rd, Wellsville, NY 14895, the property benefits from a high daily traffic count of 3,798 vehicles. Its strategic location near Alfred State College, Alfred University, and Houghton University ensures a consistent stream of guests. Furthermore, its proximity to the large Ljungström Headquarters across the street provides additional visibility and access to amenities. The property includes ample parking with 21 spaces per key. This is a rare opportunity to acquire a well-maintained, high-performing motel in a desirable location with strong growth potential. The permitted zoning is 01-NOT Z.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wellsville
- County
- Allegany
- State
- New York
- Longitude
- -77.9123
- Latitude
- 42.1345
