1503 Portland Cobalt Rd
Portland, CT 06480
Riverdale Inn & Suites · Hospitality Property For Sale
·
27,046 SF
PROPERTY FACTS
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.22 AC |
| Building Size | 27,046 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1943/2020 |
| Parking Ratio | 2.85/1,000 SF |
| Corridor | Exterior |
| Zoning | B2 - business |
AMENITIES
- High Speed Internet Access
- Public Access Wifi
ABOUT 1503 PORTLAND COBALT RD , PORTLAND, CT 06480
Morrow Realty is pleased to offer The Riverdale Inn & Suites for sale. There are three building on this 3 acre site.The Riverdale is operating with profitable weekly rentals. There are no nightly stays. There are 44 rooms, one small apartment and one larger apartment totaling 46 units. There is a welcoming lobby, onsite laundry, and meeting room that may also be rented for events and meetings. The Pro Forma Budget shows net income of over $200,000 allowing for a 10% vacancy and payroll of over $60,000 per year.There are three years of income and expenses as weekly rentals. An active owner operator could improve the net income. The Riverdale Inn & Suites is located in Portland on RT 66 in CT along the Connecticut River. Located in the heart of Connecticut, this establishment is easily accessible from major highway I91 and RT 9, just minutes from Hartford.
PROPERTY TAXES
| Parcel Number | PORT-000006-000000-000021 | Improvements Assessment | $567,770 |
| Land Assessment | $292,810 | Total Assessment | $860,580 |
