0 Old Us Highway 42London, OH 43140

Property Details for 0 Old Us Highway 42

Year built

1987

Lot size

3.00 AC

Property size (Sq ft)

25,000 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

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.

Location Insight

City

London

County

Madison

State

Ohio

Latitude

39.9299

Longitude

-83.4094

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