For Sale: MOTEL IN SARANAC LAKE, NY
SaraPlacid Motor Inn
445 Lake Flower Ave. Saranac Lake, NY 12983
Excellent Investment Opportunity with Upside Potential
Recently renovated and improved hotel/rental property in the heart of it “all” in Saranac Lake, NY. Saranac Lake is a well known four season tourist destination in the Adirondack Mountains only 10 minutes from the home of the 1980 Olympic games, Lake Placid.
|Built in 1959 but recently updated|
|Total of 12,787 SF|
|Total of 6.7 +/- AC|
|17 rental units|
|Above ground tank, oil/hot water heat|
|Paved private parking lots|
|Municipal Water and sewer|
|Approx. 500’ of water frontage|
|Room Amenities: wall AC units, break room, kitchen, cable TV, etc.|
|Slab and basement|
|Mountain and lake views|
|200 AMP electrical|
|Township of North Elba|
This once motor-inn type motel has been recently updated and modernized so that a new owner need only manage the property as it is today. An older business with a “new business” story. Or if your desire is to continue to accentuate the property’s great upside potential, a new owner can increase the bottom line even more with some already well researched steps.
Currently the property consists of an 11-unit motel style building, a second motel style building with 7 units, plus a house with 3 bedrooms (sleeps 7).
The owner has recently upgraded the reservation and property management system to current technology improving the management, day-to-day operation, and profitability. The property is currently a hotel and VRBO hybrid. Reviews are excellent.
- Price :
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- Sale or Lease :
- For Sale