For Sale
$900,000

1940 Elida Rd Lima, OH 45805

31-Room Motel, Prime Location, High Traffic Area

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
136
This 31-room economy-class motel in Lima, Ohio presents a unique investment opportunity. Currently operating, the property offers significant redevelopment potential. Situated on a +/- 2.29-acre lot zoned B-2, it allows for a wide range of commercial uses. The motel enjoys a high-traffic location on Elida Road (10,610 vehicles daily) and is near Robb Avenue (7,599 vehicles daily). Its proximity to The University of Northwestern Ohio (3,746 full-time students in 2021) and the Lima Mall (anchored by JC Penney, Hibbett Sports, Old Navy, Maurice's, and Books-A-Million) provides strong potential for increased occupancy and revenue. An additional +/- 0.44-acre parcel with a 968 square foot single-family house is available separately. The asking price for this exceptional property is $900,000. This presents a compelling opportunity for investors seeking a hospitality asset with significant upside.

Property Details for 1940 Elida Rd

Property type
Hospitality properties, Motels

Location Insight

City
Lima
County
Allen
State
Ohio
Latitude
40.7576753
Longitude
-84.1375824

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FAQs

What type of property is this?
Hospitality property - 31-Room Motel, Prime Location, High Traffic Area
Where is the hospitality property located?
The property is located at 1940 Elida Rd Lima, OH.
What is the asking price?
The asking price for this property is $900,000.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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Contacts

Matt Cooper
Matt Cooper
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Useful Information

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Elida Rd
Lima, OH 45805

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Elida Rd
Lima, OH 45805

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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.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

1940 Elida Rd
  • Matt Cooper
    Matt Cooper
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