630-570-2177
29 Thornwood Dr, Ithaca, NY for Sale
Hospitality - FOR SALE
1/20
null | Request Cap Rate

29 Thornwood Dr
Ithaca, NY 14850


HIGHLIGHTS

  • The hotel enjoys a prime location just off NY 13 and is less than a mile from Ithaca Tompkins International Airport.
  • The Courtyard benefits from being part of the world’s largest hotel company in the world, with the biggest hotel rewards program.
  • The hotel is well-positioned to capture market demand and achieve growth within the midscale and upper midscale segments.
  • The Hotel is being offered unencumbered by existing debt. Land Lease is in place for this property (inquire for terms).
  • By streamlining processes, optimizing staff, and leveraging technology, the hotel can cut costs and boost profitability.

OVERVIEW

Marcus & Millichap is pleased to offer, on an exclusive basis, the opportunity to acquire the leasehold interest in the Courtyard Ithaca, NY (the “Property”, “Asset”, or “Hotel”) a 107-room hotel strategically located at 29 Thornwood Drive, Ithaca, NY 14850. The Property benefits from its prime location just off of NY 13 which is less than a mile from Ithaca Tompkins International Airport, providing exceptional visibility and convenient access. The Hotel is in close proximity to all major demand generators in the area including the Cornell University (2 miles away), Downtown Ithaca Commons, Buttermilk State Park, Children’s Garden, Finger Lakes Wine Country, Herbert F. Johnson Museum of Art and more! The Hotel is being sold at auction via RealINSIGHT Marketplace on September 25th, 2024. The Syracuse Metro is the economic and educational hub of Central New York. The region’s top employers are primarily in the education and service industries. The Syracuse area has numerous small and midsize firms which contribute to a level of economic stability. SUNY Upstate Medical University in Syracuse is the only academic medical center in Central New York. It is also the region’s largest employer, with 9,500 employees. With nearly 22,000 students, Syracuse University is a private research institution, with an estimated annual economic impact of more than $1 billion. The Diocese of Syracuse is a Catholic diocese headquartered in Syracuse. It serves seven counties of central and south-central New York state, with 129 parishes and 22 schools. Property Tours By appointment only - please contact Michael Klar, Michael.Klar@marcusmillichap.com, to schedule a tour. Ralph Passono, Jr. c/o Fisher Auction Company Inc. License: 1 NY Broker No.:10311203946

FOR SALE DETAILS

PRICE

Request Info for Price

# OF ROOMS

107

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

REIT Sale-Courtyard Ithaca Airport/University

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2000

PARKING SPACES

113

LAND DETAILS

LAND ACRES

5.77 AC

LAND SF

251,341 SF

ZONING

Business & Tech- Lansing

APN/PARCEL ID

503201-045-001-0001-055-019-0000

ASK ABOUT THIS PROPERTY

Ebrahim VallianiMarcus & MillichapMore Info
630-570-2177

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Ebrahim VallianiMarcus & MillichapMore Info
630-570-2177

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.