For Sale
$1,495,000

601 High StMount Vernon, OH 43050

Prime Ohio Hotel, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 16-unit hotel, The Mount Vernon Inn, presents a compelling investment opportunity in the thriving downtown Mount Vernon, Ohio. Located at 601 W High St, 43050, this turnkey hospitality property boasts 4,740 square feet on a 0.8-acre lot. Currently operating at 50% occupancy, the Inn generates a Net Operating Income (NOI) of $81,000, yielding a 5.42% cap rate. The asking price is $1,495,000, translating to $315.40 per square foot. The property's diverse unit mix includes guest rooms, suites, and houses, catering to both short-term and long-term guests. Two units offer on-site living accommodations for the owner, ideal for managing the business. The Inn offers complimentary breakfast to short-term guests, while long-term guests have the option to purchase breakfast. This beautifully renovated facility is perfectly suited for short-term rentals, long-term stays, and corporate extended stays. The property's strong performance and prime location make it an attractive investment with significant upside potential. Appointments are required for all showings.

Property Details for 601 High St

Property type
Hospitality properties, Hotels
Square Feet
4,740 SF
Lot Size (sq. ft)
34,848 SF

Location Insight

City
Mount Vernon
County
Knox
State
Ohio
Latitude
40.3943438
Longitude
-82.4935073
601 High St, Mount Vernon, Ohio

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601 High St
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