Property Listing No Longer Available for Sale

207 Waterford Parkway North

Waterford, CT

Motel for Sale - $1,900,000 - 15,712 Sq. Ft.


Property Info

CIMLS#271063
Location
  207 Waterford Parkway North
  Waterford CT 06385
UpdatedDecember 10th, 2011
TypeMotel
Price$1,900,000
Building15,712 Sq. Ft.

Property Description

Tremendous I-95 Visibility

38 Guest Rooms on 3.11 Acres

Close Proximity to 2 Million SF of Retail Stores

Next to Sonalysts Movie Studios

Close to Mohegan Sun, Foxwoods, U.S. Naval

Base, Dominion Power, General Dynamics

& Pfizer ADDRESS: 207 Waterford Parkway North, Waterford, Connecticut

LOCATION: On Interstate 95, at Exit 81

PROXIMITY: Close to WalMart, Bob’s Stores, The Crystal Mall, Lowes, Home Depot

Nearby Demand Generators Include: Sonalysts Movie Studios (next door),

Dominion Nuclear Power Plant, U.S. Naval Base, Pfizer Pharmaceuticals World Research

Headquarters, General Dynamics, Mohegan Sun Casino, Foxwoods Casino, and others.

L&M Hospital to be built across the interstate from this property.

AVAILABILITY: 38 guest rooms on two floors. Owner/Manager apartment adjacent to front office.

Excess land available for potential motel expansion and/or restaurant development.

ACRES: 3.11 Acres

FRONTAGE: 355 feet. Waterford Parkway North is parallel to Interstate 95.

TRAFIC COUNT: Average Daily Traffic: I-95: 56,500

DESCRIPTION: Rodeway Inn. There has been a motel on this site for the past 48 years. Average guest

room size is 348 square feet. Gross building area is 15,712 square feet.

BUILDING AGE: Originally constructed in 1963. Second story added in 1973. Renovated in 2003-2008.

FEATURES ? Well maintained & upgraded ? Newly renovated

? New roof, windows and siding in 2003

? Air-conditioned ? Swimming pool ? Exercise room

? Refrigerator and microwave in each guest room ? Interstate 95 signage

? Manager’s apartment ? Efficiency cooking facility in several guest rooms

PARKING: Ample parking. 38,000 square feet of asphalt paving, with room to expand.

DEMOGRAPHICS: 1 Mile 3 Miles 5 Miles

Total Population: 5,036 45,303 85,570

Total Households: 2,155 17,770 33,386

Median Household Income: $62,714 $53,139 $55,658

UTILITIES: Municipal sewer and water;

propane gas; CL&P electric;

gas hot water. All units have

individual electric heat and

air conditioning.

ZONING: I-C Industrial Commercial.

Permitted uses include retail stores

and service establishments. Filling

stations, motels/hotels and

recreational facilities are allowed

with a special permit.

TAXES: $21,776

FOR SALE: $1,900,000


Financials