345 Main St Ilion, NY 13357-1313
Property profile & analytics
345 Main St Ilion, NY 13357-1313
- Motels
- 9,478 SF
- 2.30 lot acres
Property ID
US63-0106996
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Motel 6 Ilion, NY / Hotel & Motel
Property Details for 345 Main St
- Year built
- 1960
- Lot size
- 2.30 lot acres
- Property size
- 9,478 SF
- Zone code
- B1
- Property type
- Motels
- APN
- 212801 120.46-3-2
- APU
- 2128011204632
Description
This fully renovated 31-key Motel 6 in Ilion, NY, presents a lucrative investment opportunity. Boasting 9,000 square feet across two buildings on a 3.5-acre lot, this property underwent a complete renovation in 2021. Conveniently located off I-90 near Utica, it benefits from high traffic volume and proximity to commercial areas, restaurants, and shops. The motel features a variety of room configurations, catering to both business and leisure travelers. A spacious three-bedroom owner's apartment with a kitchen and living area is included, providing comfortable living quarters for an on-site manager. The property also includes a large vacant space, previously used as a banquet facility, offering significant potential for expansion or additional revenue streams through leasing. Built in 1968, this well-maintained property offers a strong base of business and high potential for increased profitability through strategic management and potential expansion. The established Motel 6 franchise provides brand recognition and a proven business model. This turnkey operation is priced at $1,300,000, representing an exceptional value in the current market. The property is zoned commercial and offers ample on-site parking. Don't miss this chance to acquire a thriving hospitality business with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,050,000
- ML approach
- $1,015,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $955,000
- 6.5%
- $885,000
- 7%
- $820,000
-
Alternative Use
- Use
- Estimation
- HOTEL/MOTEL
- $710,000 Current use
- RESTAURANT
- $995,000 Change: +40% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $945,000 Change: +33% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $855,000 Change: +20% Conversion: Difficult
- WAREHOUSE, STORAGE
- $645,000 Change: -10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Ilion
- County
- Herkimer
- State
- New York
- Longitude
- -75.0215
- Latitude
- 43.0103
- CBSA code
- 46540
- CBSA name
- UTICA-ROME, NY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$16,105
$72,200
$187,800
$260,000
-
$131,273
$341,454
$472,727
