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207-209 & 211-217 Main Street

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Address: 207-209 & 211-217 Main Street

New York & Tri-State + Apartment Buildings

Created date: September 5, 2023

Date last updated: August 29, 2024

Value-Add Opportunity: Ability to Increase Weekly Rates 25% to 50% Comparable to Nearby Extended Stay Hotels and/or Incorporate Shorter Term Stays to Increase Nightly Rate
Well Located: Situated on “Main Street” in Royersford Borough in Highly Sought-After Montgomery County Pennsylvania
Future Redevelopment Opportunity: Possible to Convert Hotel Rooms to Apartment Units
Strong Rental Market: Market Occupancy Average 95% or Better
Walkability: Walking Distance to Cafes, Shops and Restaurants along “Main Street”

Property Description

On behalf of ownership, GREA extends to qualified investors the unique opportunity to acquire the fee simple interest in 211-215 Main Street, known as the Royersford Hotel, as well as the adjacent property situated 207-209 Main Street.• 211-215 Main Street: The Royersford Hotel consists of (5) one-bedroom apartments, (13) hotel rooms, and a ±3,500 square foot restaurant/bar with a built-out kitchen, Hotel (H) Liquor License, and 22 off-street parking spaces.• 207-209 Main Street: This is a 7-unit apartment building currently being run with the Hotel. This property consists of (3) one-bedroom apartments, (2) studios, (2) rooms, and a laundry room.Current ownership runs both properties as a hotel with the owner paying all utilities. They have a one-week minimum stay with an estimated average of six-month stay. Some tenants have been there for 10+ years. Both properties operate with nearly no vacancy. Less than half a mile from the subject property, the Spring City Hotel charges ±$250 per room per week (with communal bathrooms), and $350 to $375 for studio apartments. Spring City Hotel posts a ±95% occupancy rate with a two-week minimum stay at significantly higher rental rates proving the market rents can be increased significantly at The Royersford Hotel.New ownership has numerous options available to rent the rooms/apartments to increase the income of this property — whether it be nightly, extended stay, or a hybrid model. In addition, they can operate the restaurant/bar or lease the space and hotel liquor license to a prospective tenant.The properties are located on “Main Street”, Royersford’s highest-traveled road, with an array of restaurants and storefronts. In addition, the properties are situated down the road from The Riverfront at Royersford, the newest mixed-use development in Royersford, featuring 188 apartment units and 10+ retail stores making this one of the largest attractions in town.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,750,000
No. of Units:	26
Year Built:	1880
Lot Size:	17,537.00 Sq ft
Opportunity Zone:	No
Price per unit:	$105,769
Property Website	Click Here