For Sale
$900,000

1940 Elida RdLima, OH 45805

31-Room Motel, Prime Location, High Traffic Area

Overview

Added:
Dec 11, 2024
Days on market:
115
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
1940 Elida Rd, Lima, Ohio

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1940 Elida Rd
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