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Days Inn | 157 Nott Terrace, Schenectady, NY 12308 Offering

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Days Inn | 157 Nott Terrace, Schenectady, NY 12308 Offering Days Inn | 157 Nott Terrace, Schenectady, NY 12308 Offering Memorandum Exclusively Listed By: NON-ENDORSEMENT & DISCLAIMER NOTICE Confidentiality & Disclaimer The information contained in the following marketing brochure is protected and strictly confidential. The marketing brochure’s intended to be reviewed only by the party receiving it from Cherko Fusco Realty and should not be made available with out the consent of Cherko Fusco Realty. This marketing brochure has been prepared to provide a summary of unverified information to prospective purchasers/investors. Its purpose is to give an introductory level of information in regard to the subject property. The information in this brochure is not a substitute for due diligence. Cherko Fusco Realty has not made any investigation, and provides no warranty or representation, with respect to income or expenses for the subject property, the future financial performance of the property, property size, property improvements, and square footage, the presence or absence of contaminating substances, PCB’s condition or business prospects of any tenant, or any tenants plans to occupy the subject property. The information we have obtained from sources we believe are reliable; however, Cherko Fusco Realty has not verified, will not verify, and make no warranty to the information within. All potential buyers must take appropriate measures to verify all the information herein. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE DO NOT SHOW UP AND INQUIRE WITH ANY EMPLOYEES. PLEASE CONSULT A CHERKO FUSCO AGENT FOR MORE DETAILS. Exclusively Listed By: Bryce Cherko Vice President Of Sales & Leasing Cherko Fusco Realty 518-847-9138 [email protected] http://cherkofuscorealty.com www.facebook.com/cherkofuscorealty 3166 N Thompson St, Schenectady, NY 12306 Please contact Bryce with any questions, offers, or showing requests. Also please be able to provide proof of funds prior to showing request. Thank you for your cooperation! Executive Summary Days Inn Schenectady OFFERING SUMMARY Property Information: Total Number Of Rooms: 68 Year Built: 1970 Total Sq Ft: 29,904 Stories: 3 Acreage: 1.42 Water Source: Municipal Sewer Source: Municipal Zoning- 05/Commercial School District: Schenectady Re-Development Analysis •Purchase Price: $2,677,000 •Estimated Rehab Cost Per Room: $60,000 •Total Estimated Rehab Cost: $2,040,000 •Estimated Average Rent/ Room: $1,350 •Estimated Number Of Units: 34 •Cap Rate: 4.8% •________________________________________________________ ____________________________________________ •Loan Amount: $4,717,000 •Down Payment: $943,400 •Estimated Taxes: $58,963 •Estimated Insurance: $16,510 •________________________________________________________ ____________________________________________ •Total Monthly Income: $45,700 •Total Monthly Payments: $23,250 •Total Monthly Cash Flow:$22,450 Investment Overview: Cherko Fusco Realty has been chosen to exclusively market for sale the Days Inn Schenectady. This hotel is a three story, 68 room hotel located in the booming real estate market known as downtown Schenectady. The hotel has close proximity to Proctors theatre, Rivers Casino, Union College, Interstate 890, the Mohawk River, and so much more. Hotel amenities include a gym, breakfast bar, free wifi, television, housekeeping, and free parking. _______________________________________________________________________________________ Investment Summary The Days Inn has ideal location for a luxury apartment re-development. Schenectady has recently experienced an influx in new residents, more attractions, and more jobs. During the pandemic the entire capital region has experienced substantial population growth. This population growth has made the local real estate market boom and there is dire need for more housing units. Our proforma analysis assumes that an investor will buy the hotel to redevelop into luxury apartments which seem to be the trend in Downtown Schenectady. ________________________________________________________________________________________ Area Attractions Major Employers: Distance: Union College 0.3 mi Siemens 0.5 mi Proctors 0.6 mi Price Chopper 0.8 mi General Electric 1.1 mi Rivers Casino 1.5 mi Ellis Medicine 1.5 mi Metro Ford 5.2 mi Community Reports Post Redevelopment .
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