For Sale
$2,300,000

0 Old Us Highway 42London, OH 43140

80-Unit Motel, High Growth Area, $2.3M

Overview

Added:
Dec 11, 2024
Days on market:
115
This 80-unit motel in London, Ohio presents a compelling value-add opportunity. Located on 3 acres at 470 US Highway 42, this 25,000 square foot, four-building property offers significant potential for conversion. Built in 1987, the FairBridge Inn Express features exterior corridors, individual room HVAC units, and a pitched shingled roof. Currently operating with 28.6% occupancy (as of May 31, 2023), the property boasts 85 parking spaces and presents a strong case for repositioning. The property's location in a rapidly growing transportation hub, just 20 miles from Columbus, offers easy access to major employers including Amazon, FedEx, DHL, Target, and others. The asking price is $2,300,000 ($92/sq ft, $28,750/key). The property is zoned commercial and offers the potential for conversion to extended-stay studios or another brand. This fee-simple ownership opportunity is ideal for an investor seeking to capitalize on the area's robust growth and the property's significant upside potential. The Madison County parcel number is 05-00443.002.

Highlights

  • Value-add opportunity: Convert to extended-stay studios or another brand.
  • Prime location in a rapidly growing transportation hub near Amazon, FedEx, DHL, Target, and other major employers.
  • 20 miles from Columbus, Ohio, ideal for commuters.
  • 3-acre site.

Property Details for 0 Old Us Highway 42

Property type
Hospitality properties, Motels
Square Feet
25,000 SF
Class
C
Year Built
1987
Buildings
4
Stories
1
Lot Size (sq. ft)
130,680 SF
Units
80

Location Insight

City
London
County
Madison
State
Ohio
Latitude
39.9298751
Longitude
-83.4093987
Old Us Highway 42, London, Ohio

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0 Old Us Highway 42
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