400 Center Place Dr Rochester, NY 14615

Property Details for 400 Center Place Dr

Year built

2009

Lot size

2.91 lot acres

Property size

77,616 SF

Zone code

03 - MULTI-FAMILY

Property type

Hotels

APN

262800 074.16-4-40.3

APU

262800074164403

Description

This exceptional 95-key Homewood Suites by Hilton hotel in Rochester, NY, presents a compelling investment opportunity. Located at 400 Center Place Drive, this five-story, 67,616 square foot property boasts an impressive 83.4% occupancy rate, significantly exceeding the market average of 66.1% in 2023. The hotel underwent extensive renovations in 2021/2022, addressing major aspects of a planned improvement project, with an estimated $800,000 remaining to complete. Amenities include an indoor pool, games room, full-service lounge/bar, BBQ grills, and two meeting rooms (575 SF and 338 SF) accommodating up to 40 guests. Its strategic location, a short 10-minute drive from the airport and near major highways, provides easy access for both business and leisure travelers, further enhanced by its proximity to corporate offices. The Rochester hospitality market shows positive trends, with RevPAR increasing from $85 to $101 in 2023. Current owner-operation presents significant potential for revenue management improvements, with STR analysis indicating opportunities to enhance all property-level fundamentals (Occupancy 117.4%, ADR 115.1%, RevPAR 135.1%). This well-equipped and renovated asset offers investors the chance to streamline expenses and optimize profitability through their own management strategies. The property is offered for sale via a request for proposals.

Location Insight

City

Rochester

County

Monroe

State

New York

Longitude

-77.6723

Latitude

43.2084

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments