669 Broadway - Hospitality FOR SALE


Ulster Park, NY 12487
$1,600,000 USD
845-389-7895
669 Broadway, Ulster Park, NY for Sale
$1,600,000 USD
Hospitality - FOR SALE
1/30
null | 6.1% Cap Rate

669 Broadway
Ulster Park, NY 12487


HIGHLIGHTS

  • Excellent Views & Access to Mirror Lake
  • Docks can be placed on the lake (Need insurance)

OVERVIEW

Prime Hospitality Investment Opportunity on Mirror Lake - 10-Unit Motel & 2-Family Home Located on the banks of Mirror Lake, this 1.2-acre hospitality-zoned property offers a unique investment opportunity just 5 minutes from Downtown Kingston's waterfront and 90 miles from NYC. Formerly operating as the Lake Motel, the property consists of two adjacent parcels: a 10-unit motel and a renovated 2-family home, providing excellent potential for short- or long-term rentals. The motel building features 10 studio units with kitchenettes, 8 of which have been completely renovated with modern finishes, including subway tile baths and updated flooring. The remaining 2 units are occupied by long-term tenants. Each unit has separate 100-amp electric service, and an 11-meter electrical panel allows for future utility separation if desired. Additional amenities include wall-mounted heating & cooling units, a complete water treatment system, and well/septic infrastructure. The building also includes a dedicated laundry room with 2 washers and 2 dryers, providing added convenience for tenants or guests. The 2-family home, originally the motel office and owner's quarters, has been converted into two fully renovated rental units. The first-floor unit is a spacious 2+ bedroom with new natural gas forced air heat and electric hot water. The second-floor unit is a bright 1-bedroom apartment with electric heat and hot water. Each tenant pays for their own utilities. With 200 feet of private lake frontage, this property is well-suited for hospitality use, offering boating, fishing, and winter activities such as ice fishing and skating. The private lake has no public access, ensuring a peaceful and exclusive setting. Whether continued as long-term rentals or repositioned as a boutique lakeside motel or Airbnb destination, this versatile investment presents a strong income-generating opportunity in the Hudson Valley.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$653 USD /SF

# OF ROOMS

11

PRICE/ROOM

$145,455 {currency}

CAP RATE

6.1%

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Lake Motel

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1940

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

R40

APN/PARCEL ID

2200-064.003-0001-011.000-0000

ASK ABOUT THIS PROPERTY

Greg BerardiBerardi RealtyMore Info
845-389-7895

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Greg BerardiBerardi RealtyMore Info
845-389-7895

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