Newly Built Best Western in Far Rockaway - 58 Keys

1017 Beach 21st Street, Far Rockaway, NY

$13,900,000

Price

7.28%

Cap Rate

22,250 sqft

Building Size

Overview
Cap Rate
7.28%
Building Size
22,250 sqft
Lot Area
12,600 sqft
Keys
58
Star Rating
4
Year Built
2019
Management
Encumbered
Floors
3
Parking Spots
20
Investment Strategy
Core Plus
Description

CAN BE DELIVERED UNENCUMBERED OF FLAG

This Best Western Hotel is an excellent investment opportunity. The newly constructed hotel boasts high end finishes, ADA accessibility, a fitness center, a fully appointed breakfast area and lounge, as well as laundry facilities.
There are 88 rooms, very convenient parking and is moments from the A train, making it very accessible to the city. It is also 6 miles from JFK and is serviced by the airport shuttle.
It is adjacent to a Wingate Hotel that can be acquired simultaneously or separately.

Highlights
  • Industrial and Commercial Abatement Program (ICAP) – 25 Year Real Estate Tax Abatement
  • New Construction
  • Direct access to NYC: 2 blocks from the “A” Far Rockaway-Mott Avenue subway station
Documents
Title
1021_Beach_21st_Street_HOTEL-OM-Teaser-Compressed.pdf
* Documents permissions are set by the listing owner, request information to access locked documents.

Location
Gallery