Starting bid is $1.95 million on 2-story, 2.25-acre property in Calcium, NY
Calcium, NY (July 27, 2016) — SVN Auction Services will conduct the sale of the 100-room Microtel Inn & Suites by Wyndham/Calcium in upstate New York. The online sale has a starting bid of $1.95 million and begins at noon Aug. 11. The auction will be conducted with online bidding only at www.nyhotelauction.com.
The two-story hotel is situated on nearly 2.25 acres and counts among its guests the family and friends of Army personnel at Fort Drum, home of the prestigious 10th Mountain Division. The base, which hosts about 80,000 soldiers each year for training, is about 1.5 miles from the hotel.
“The hotel is operating very profitably and will be attractive to many investors,” said John L. Johnson, CCIM, senior advisor of SVN Auction Services in Atlanta, who is handling the sale. “The equity fund that owns the property is an extremely motivated seller and the hotel has the advantage of being so close to Fort Drum.”
The hotel, located near Interstate 81, has convenient amenities and a prime location in the gateway to the Thousand Islands region, with easy access to boating, fishing and golf. The property also features frontage and a driveway on Virginia Smith Drive and adjoins a McDonald’s restaurant.
Inspections are available by appointment from 11 a.m. to 2 p.m. Aug. 4 and 5. To reserve an inspection time, call 404-303-1232, ext. 12. To register for the sale, visit nyhotelauction.com.
About SVN Auction Services
SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional accelerated marketing advisors throughout the United States who specialize in accelerated marketing services for commercial real estate assets. SVN Auction Services offers the industry’s most comprehensive spectrum of auction solutions — from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, SVN Auction Services is supported by SVN International, which features 200 locations serving more than 500 markets. This relationship provides outstanding opportunities for SVN Auction Services to serve clients needing to move assets in accelerated timeframes and creates significant value for buyers and sellers. For more information, visit SVN Auction Services.