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KW COMMERCIAL400 Garden City Plaza,Suite 438Garden City, NY 11530 TIM MCCAFFREY
Director0: [email protected]
TONY SHAWCommercial AgentO: [email protected] #082.0007682
Toll Road Inn
OFFERING MEMORANDUM
PRESENTED BY:
MANCHESTER CENTER, VT
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 2
KW COMMERCIAL400 Garden City Plaza,Suite 438Garden City, NY 11530
Confidentiality & Disclaimer
TIM MCCAFFREYDirector0: [email protected]
TONY SHAWCommercial AgentO: [email protected] #082.0007682
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Garden City, NY in compliance with all applicable fair housing and equal opportunity laws.
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
OFFERING MEMORANDUM
PRESENTED BY:
MANCHESTER CENTER, VT
PROPERTY INFORMATION
1 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
PROPERTY DESCRIPTION
PROPERTY DETAILS
ADDITIONAL PHOTOS
LOCATION MAPS
1PROPERTY INFORMATIONTOLL ROAD INN
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 4
OFFERING SUMMARY
SALE PRICE: $1,250,000
NUMBER OF ROOMS: 16 (potentially 22)
CAP RATE: 7.72%
NOI: $96,506 (2019)
LOT SIZE: 3.8 Acres
PROPERTY OVERVIEWImmaculate 16 room motel meticulously maintained by same owners for over 18years. Truly one of the nicest motels in the area Opportunity for new operator to bring fresh approach to capture additional marketshare. Sale includes a wonderful adjoining 3 bdrm, 2.5 bath home. The homecould be incorporated into inventory and marketed as extended stay . A "turn key"opportunity. Seller is motivated and looking to make a deal.
PROPERTY HIGHLIGHTS
2 story interior corridor buildings with 16 immaculate guest rooms
Add'l 6 rooms not currently included in inventory. Potentially 22 rooms.
Located on just shy of 4 acres - possible expansion or development
Adjoining home added in 2005 features beautiful open conceptliving/dining/kitchen area, Hard Wood Floors throughout, Fire Place, MasterSuite, 2 guest bedrooms, 2.5 baths, heated garage, outdoor decks overlookingstream and mountains
Business Consistenly generates over $235K annually
2019 NOI $96,506 (property was closed most of 2020 due to Covid-19)
Asking Price $1.25M
Newer Roof
Executive Summary
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OPPORTUNITY
Very little capital expense is required in order to increase revenue. Current ownership is not engaged in the market. There is veryonline exposure or yielding rates with 3rd party sites. There is littlerate management or seasonal rate fluctuations.
With relative ease, a new operator coulld increase room inventoryto 22 and possibly incorporate the on-site 3 bedroom home intolong term stay business. A new fresh online appearance andengaging 3rd party booking sites will surely drive additionalrevenue and a solid rate strategy will impact the bottom line.
LOCATION OVERVIEW
On Route 11 - just off Route 7 - In the heart of ski country witheasy access to Bromley and Stratton. Only 5 minutes from OutletMalls in Manchester Village. Spectacular mountain and streamviews throughout the property. Walking distance to fabulousrestaurants and shops. Manchester is 3.5 hours from Boston, 4hours from New York City and only 90 minutes from Albany, NY.
Property Description
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SALE PRICE $1,250,000
LOCATION INFORMATION
Building Name Toll Road Inn
Street Address 2220 Depot Street
City, State, Zip Manchester Center, VT 05255
County/Township Bennington
BUILDING INFORMATION
Building Size 11,500 SF
NOI $96,506
Cap Rate 7.72%
Year Built 1965
Number Of Floors 2
PROPERTY DETAILS
Property Type Hospitality
Property Subtype Limited Service
Lot Size 3.8 Acres
Property Details
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Additional Photos
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Location Maps
TOLL ROAD INN 1 | PROPERTY INFORMATION