2901 Airport DrColumbus, OH 43219

Property Details for 2901 Airport Dr

Year built

1996

Lot size

3.23 AC

Property size (Sq ft)

87,297 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

010-233777

APU

10233777

Description

This fee-simple, 150-key Courtyard by Marriott in Columbus, Ohio, presents a compelling investment opportunity. Boasting 87,297 square feet on a 3.226-acre lot, this three-story hotel underwent a comprehensive renovation in 2021, enhancing its appeal to guests. Currently operating at 70% occupancy, the hotel features a Bistro Restaurant and Lounge, 1,226 square feet of meeting space, a fitness center, guest laundry, business center, sundry shop, and an outdoor fire pit. Its prime location near John Glenn International Airport (CMH), undergoing a $2 billion expansion, and Ohio State University (OSU), with its 65,000+ student population, ensures consistent demand. Further bolstering its potential is the proximity to major corporations like Intel, Amazon, Honda, and LG, which are significantly investing in the Columbus area, driving substantial economic growth and increased passenger traffic at CMH (projected to rise from 8,375,000 to 13,000,000 annually). The hotel's proximity to the Greater Columbus Convention Center, a large facility with extensive meeting and exhibit space, adds another layer of consistent revenue generation. Built in 1997, this stabilized investment offers operational upside in an expanding market, making it an attractive acquisition for discerning investors. The asking price is $15,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $19,813,870

  6.5%

  $18,289,726

  7%

  $16,983,318

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,189,540

  Geo Method

  $19,189,540

• Alternative Use

  Use

  Valuation

  Residential

  $19,967,068

  Hospitality

  $18,289,726

  Educational

  $15,216,838

  Medical

  $15,740,168

  Retail

  $23,670,636

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.999

Longitude

-82.9316

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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