Baymont by Wyndham - NJ

Property Description: Baymont Inn by Wyndham Plus Extra Land Parcel for Commercial Development. The hotel includes 104 keys with restaurant and bar, plus large banquet and conference space. Located in Pompton Plains - Wayne, Northern New Jersey, less than 25 miles to New York City. Located in one of the top wealthiest counties in the U.S. More than 33 Fortune 500 companies in county. Close to corporate headquarters and offices. Conveniently located close to 2 popular wedding venues. Converted to Baymont by Wyndham in December 2018 from Best Western. Hotel revenues are $2,400,000 in 2018 plus food and beverage for total revenues about $2,900,000. Upside opportunity for new owner to increase brand awareness as Baymont through sales and marketing and to leverage banquet and restaurant to drive room sales. Projected stabilized revenue is over $3,500,000 and $1,120,000 net operating income. Projected 9.0% cap rate as stabilized. Sale includes approx. 10 acres. The hotel is on 6 acres and a separate parcel of 4 acres, of which approx. 2.5 acres can be developed. Opportunity to build an additional hotel, restaurant, office building, multi-family, or retail. Vacant Land is valued at $1,400,000 and Hotel is valued at $12,500,000. Hotel and Land Offered as a Package, Combined offering price $13,900,000.