For Sale
$2,200,000

1945 Southgate Pkwy Cambridge, OH 43725

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.

Property Details for 1945 Southgate Pkwy

Property type
Hotels, Hospitality properties
Square Feet
36,318 SF
Price / Square Foot
$60.58
Year Built
1973
Buildings
3
Stories
2
Elevators
N/A
Lot Size (sq. ft)
426,888 SF
Units
95

Location Insight

City
Cambridge
County
State
Ohio

FAQs

What type of property is this?
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.
How can I contact the broker?
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1945 Southgate Pkwy
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