100 Chestnut Ridge Rd, Montvale, NJ 07645
100 Chestnut Ridge Rd, Montvale, NJ 07645Basic Details
- Date added: Added 2 weeks ago
- Type: Commercial
- Category: For Sale
- Status: Open
Description
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Description:
184 Room Hotel Montvale, NJ 07645 For Sale
Hunter Advisors has been exclusively retained to solicit offers for the acquisition of the 184-key Courtyard by Marriott Montvale (the “Hotel” or “Property”), a premier, recently renovated, institutional-quality Marriott-branded asset strategically positioned immediately off the Garden State Parkway within Bergen County’s dominant corporate corridor.
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Property Details
- Area: 116,000 sq ft
- Year built: 1973/2024
- Sale Type: Investment
- Lot Size: 9.19 AC
- Building Size: 116,000 SF
- Building Class: B
- Property Subtype: Hotel
- Parking Ratio: 3.14/1,000 SF
- Zoning: OR-2, Montvale Boro
Highlights
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- $4.0M ($21,700 per key) renovation completed in 2024 focused on guestrooms, corridors, lobby, and public spaces
- In-place cash flow offering an investor immediate yield
- Situated proximate to the North American headquarters of Jaguar Land Rover, Volvo Car USA, BMW of North America, and INEOS
- Strong post-renovation performance resulting in a TTM February 2026 RevPAR of $109 with clear upside potential
- Located in a bustling corporate market anchored by KPMG’s 281,000-square-foot campus
- Long-term lease in place with Fire & Oak, a full-service restaurant located on the ground floor
Property Taxes
- Parcel Number: 36-02904-0000-00002
- Land Assessment: $4,365,300
- Improvements Assessment: $16,534,700
- Total Assessment: $20,900,000
Agent
Spencer Davidson
Hunter Hotel Advisors
Riana Stadlen
Hunter Hotel Advisors
Location
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