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The Lake House 2521 County Highway 22 16 Room Hotel Richfield Springs, NY 13439 $2,500,000 ($156,250/Room)
INVESTMENT HIGHLIGHTS
- Full restaurant
- 500 feet of frontage on the lake
- Summer concerts every weekend from mid June-a week after Labor Day
- Stage that fits up to 500 people
- Perfect wedding venue
EXECUTIVE SUMMARY
16-room hotel with a restaurant, an Outdoor stage next to the Lake that holds up to 500 people, a dock that can accommodate 50-60 boats and 500 feet of frontage on Lake Canadarago. New heating system, using Multiple Split Heat Pump Systems in Zoned areas. Air-conditioned large Kitchen, three large Parking Lots added due to increased room occupancy and increased lunch and dinner flow. New Sprinkler system on the third floor. Added a New Fire Panel with the Fire Department notified when detectors are activated.
PROPERTY FACTS
| Price | $2,500,000 |
| Price Per Room | $156,250 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.94 AC |
| Building Size | 12,000 SF |
| No. Rooms | 16 |
| No. Stories | 3 |
| Year Built/Renovated | 1843/2017 |
| Parking Ratio | 2.5/1,000 SF |
| Corridor | Interior |
| Zoning | Commercial |
AMENITIES
- Business Center
- Restaurant
- On-Site Bar
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $172.00 | - |
| Guest Room | 14 | $145.00 | - |
1 1
PROPERTY TAXES
| Parcel Number | 365689-024-020-0001-001-001-0000 | Improvements Assessment | $480,000 |
| Land Assessment | $310,000 | Total Assessment | $790,000 |
