95-room hotel, high occupancy, investment opportunity.
Overview
Added:
Jan 28
Days on market:
89
This 95-room Quality Inn in Cambridge, Ohio, presents a compelling investment opportunity. Built in 1973, this two-story, exterior corridor hotel comprises five buildings situated on a 9.8-acre lot. The property boasts a partial completed property improvement plan (PIP) and features paid-off solar panels, significantly reducing utility costs. The hotel enjoys a prime location on Southgate Parkway, with 22,125 vehicles passing daily, and convenient access to Interstate-70 (41,598 vehicles daily). Demand is driven by a mix of tourism, medical, higher education, transient, and commercial activity, including proximity to Salt Fork State Park, Seneca Lake Park, The Wilds Conservation Center, and major employers like Colgate-Palmolive and Southeastern Equipment Company. The hotel consistently outperforms competitors in occupancy, achieving occupancy penetration indices of 92% and 122% in 2022 and 2023, respectively. However, the average daily rate (ADR) penetration indices of 82% and 79% in 2022 and 2023, respectively, indicate significant upside potential for an owner-operator implementing effective rate management strategies. A completed PIP would further enhance ADR and profitability. The property is offered fee simple, free of debt and third-party management. The asking price is $2,200,000. This represents a strong value proposition for investors seeking a dynamic market with clear potential for revenue growth. The property's location, 80 miles from John Glenn Columbus International Airport and with easy access to I-70 and I-77, adds to its appeal.
Highlights
95-room Quality Inn in Cambridge, OH, priced at $2.2 million.
Sits on a 9.8-acre lot with high daily traffic counts from I-70 and Southgate Parkway.
Features paid-off solar panels and a partial property improvement plan already completed.
Hotel - 95-room hotel, high occupancy, investment opportunity.
Where is the hotel located?
The property is located at 1945 Southgate Pkwy Cambridge, OH.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 95-room Quality Inn in Cambridge, OH, priced at $2.2 million.; Sits on a 9.8-acre lot with high daily traffic counts from I-70 and Southgate Parkway.; Features paid-off solar panels and a partial property improvement plan already completed.
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1945 Southgate Pkwy Cambridge, OH 43725
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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1945 Southgate Pkwy
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