Overview

Description

Property ToursDo not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.Marcus & Millichap has been chosen to exclusively market for sale the Hotel Concord Syracuse by Choice, a four-story limited service hotel conveniently located off of Interstate 90 in Syracuse, New York. The hotel's 109 guest rooms include a flat-screen TV, work desk, refrigerator, microwave and coffee maker.

Hotel amenities include electrical vehicle charge point stations, meeting space, business center, fitness center and complimentary breakfast.

Syracuse is home to Syracuse University, which is a major educational and research institution. The university attracts, faculty, and researchers, leading to demand for housing, services and related businesses. The city has several hospitals including SUNY Upstate Medical University, the only academic medical center in Central New York and the region's largest employer.

The Hotel Concord Syracuse by Choice represents the opportunity to acquire an Ascend Hotel Collection by Choice hotel in a desirable market near several demand drivers. Our analysis assumes conservative operational efficiencies, then continued modest growth supported by the increasing population and demand growth in the Central New York region.

The Property has excess land for and preliminary plans to build a second hotel site. Brand opportunities include Tru by Hilton, WoodSprings Suites by Choice, EverHome Suites by Choice, Holiday Inn Express and Hyatt Studios (see Deal Room for more information).

Buyer will receive $525,000 in key money once the PIP is completed.

Click Here for Offering Memorandum: https://allredhotelgroup.com/?propertyId=SyracuseNYBW

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Highlights

• Excess Land for Potential Hotel Development
• Choice Ascend Renovation to be Completed 2024
• Ideally Located off of Interstate 90 & 481
• The Syracuse MSA has a Population of 650,000 People
• Micron Technology, Inc Announced a $100 Billion Plan for a New Facility Near Syracuse
• 5 Miles to Syracuse University, a Renowned Global Research University
• 6 Miles to Syracuse Hancock International Airport (1.3M+ Passengers in 2022)
• Near Several Major Hospitals Including SUNY Upstate Medical University, St. Joseph's Health Hospital and Crouse Hospital

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