99 Howland Ave, Adams MA 01220
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PRIME COMMERCIAL LOCATION AT A GREAT PRICE ON A VERY BUSY ROAD IN THE BERKSHIRE HILLS OF MASSACHUSETTS.
Excellent owner occupied opportunity: Ideal for owner occupier who's thinking of starting a business or moving up in space or for the savvy investor.
Sold with clear title - No back taxes or liens- No Auction Premium.
Two buildings totalling 5,933 sq ft on 0.74 acres.
Highly visible, on a major road with a lot of traffic. Needs some work to make it operational but has excellent potential.
Fabulously located in the world renowned, Beautiful Berkshire Hills of Massachusetts, the property has great potential and offers a lot of opportunities.
Excellent potential income producing 16 unit motel with owner/management occupied apartment/office quarters on busy Route 8 in Adams, Massachusetts. The property was operated as an extended stay motel offering daily/weekly/monthly rental options to its customers and had low vacancies.
Property consists of two Buildings:
Building 1: A two storey brick building with basement containing 12 units, each floor having 6 units. The basement is accessed through the western side of the building and contains the boiler and other services and offers additional storage.
Building 2: A single story building containing the office and 4 additional units.
Busy Road*:
THIS IS A PRIME LOCATION SUITABLE FOR A VARIETY OF BUSINESSES THAT WILL BENEFIT FROM DIRECT STREET EXPOSURE ON A BUSY ROAD.
Average Daily Traffic count: 14,654 cars/ day (2014)
Traffic annual growth (2014) + 2%
Average Daily weekdays Traffic count: ~ 17,000 cars/ day (April/ May 2015)
(Ref: Massachusetts Dept of Transportation)
Rehab:
Bring it back into compliance and operate as a profitable hotel.
The Motel, closed for some health violations, a copy of the violations are attached (Click Further details to download a copy). There are no major issues mentioned in the violations and these can be easily rectified.
The property will at the same time greatly benefit from updating and full redecoration. All plumbing, electrics, heating and a/c units were operational but will need checking and updating as needed. The roof looks good with no obvious signs of leaks.
Uses:
The existing use is a 16 unit motel, but other uses may be possible subject to Town approval. The property may be converted into other types of Commercial/office space. There are many possibilities, for example the main brick building can remain as a motel with 12 units and the other building currently office and 4 units may be converted into retail, restaurant, Bar & Grill, store, offices, service center, wholesales or store. Other uses include (subject to Town approval) : auto dealers/ services, a service/ gas station taking advantage of the large parking lot area that's fronting the main road.
Great Location:
Ideally positioned with outstanding visibility on Route 8, this turn-key operation is in close proximity and an easy commute to all tourist, cultural, recreational, educational & business destinations in the Berkshires. The property is 4 minutes drive from Downtown Adams.
Nestled in world-famous "Berkshire Hills" of Berkshire County, Adams is of the fastest growing "ARTS" communities in the U.S.A. Adams is home to the "Topia Arts Center," Mt. Greylock Reservation and the Ashuwillticook Rail Trail. It is only minutes away from MassMoCA, the world renowned multi-disciplinary center for the visual, performing and media arts! Located only 20 minutes from the Williamstown Theatre Fest, The Clark Art Institute and Williams College! It is an easy commute to Springfield, MA; Hartford, CT: Albany, NY; Bennington, VT; and Keene, NH
PRIME LOCATION FOR EXPANSION, REDEVELOPMENT
PREMIUM INVESTMENT OPPORTUNITY FOR OWNER OPERATOR OR A HOTEL COMPANY
HIGHLY VISIBLE, THIS IS A GREAT LOCATION FOR A VARIETY OF BUSINESSES
Demographics
Total Population (within 3 miles): 10,939
Total Population (within 5 miles): 23,534
% White alone ( within 3 miles): 95.51%
Average Household Income (within 3 miles): $49,603
*loopnet
THIS IS A UNIQUE OPPORTUNITY FOR THE SAVVY BUSINESS OWNER, DEVELOPER OR INVESTOR TO OWN A POTENTIALLY HIGH INCOME PROPERTY AT A DISCOUNTED PRICE IN A GREAT LOCATION.
Great investment opportunity:
According to Trulia , the average listing price for homes in 01220 is currently: $169,453.
Comparables for sale:
32 North Summer Street, Adams, MA 01220 - 3,988 sq ft - Local Tavern with 2 apartments- $229,000
160 Howland Avenue, Adams, MA 01220- Former Goodwill bldg- 10,272 sq ft- $449,900
Motel Room rate in comparables Motels:
Weathervane Motel, Lanesborough MA (Adams 10.3 mi): $96/night
Wagon Wheel Inn, Leonax MA (Adams 17.0 mi) : $77/night
Berkshire Travel Lodge, Canaan NY (Adams 24.3 mi): $86/night
Scottish Inns, Hatfield MA (Adams 30.1 mi): $59/ night
Scottish Inns at the Hudson, Waterford NY (Adams 30 mi): $79/ night
Chatham Travel Lodge, Old Chatham NY (Adams 27.6 mi): $80/ night
Latham Inn, Latham NY (Adams 33.9 mi) : $75/ night
Capital Inn and Suites, Rensselaer, NY (Adams 33.7 mi): $80/ night
Cozy Corner Motel, Williamstown MA( Adams 10.8 mi) : $79/ night
Note
1. Many of the above motels are not on a busy road (as is the case for this property)
2. The only available hotel/ motel in Adams is: Topia Inn in Adams (sold out for several weeks): $250/ night
Real Estate Taxes
APN/Parcel ID #: MAP:103LOT:2
PROPERTY IS SOLD AS IS, WHERE IS- Clear title - No back taxes or liens.
No Auction Premium
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
Buyer will also be responsible for $500 deed prep but no auction premium.
10% non-refundable deposit, auction premium and $500 deed preparation and doc fee are due within 48 hours of auction close.
Final Payment to be made within 3 weeks of the Auction close.
All bidders to do their due diligence. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
