5520 Maxwell PlColumbus, OH 43228

Property Details for 5520 Maxwell Pl

Year built

2008

Construction

WOOD

Lot size

1.88 AC

Property size (Sq ft)

41,973 SF

Property type

Hotels

APN

560-282486

APU

560282486

Description

This exceptional investment opportunity presents the Fairfield Inn & Suites Columbus Hilliard, an 83-key, two-story hotel boasting 35,458 square feet on a 1.88-acre lot. Built in 2011, this limited-service property features an interior corridor design and benefits from a 20-year franchise agreement with Marriott, extending to April 2038. A significant $2 million renovation (2018-2020) encompassed the lobby, guest rooms, and common areas. The hotel's strategic location at 5520 Maxwell Pl, Columbus, OH 43228, provides convenient access to Interstates 70 (95,098 vehicles per day) and 270 (117,976 vehicles per day), maximizing exposure to a diverse range of demand generators. These include significant tourism (Greater Columbus Convention Center, Ohio State Athletic events, COSI), medical (Nationwide Children's Hospital, OSU Wexner Medical Center), higher education (Ohio State University with over 60,000 students), and commercial activity. The property achieved impressive RevPAR indices of 102% in 2022 and 100% in 2023, outperforming competitors. Currently operating under absentee ownership, this asset presents a compelling value-add opportunity for a hands-on operator to leverage local market expertise and implement further operational efficiencies. The fee-simple interest offering includes the potential for increased RevPAR through a mid-cycle property improvement plan. Financial details, including revenue, NOI, ADR, and occupancy, are available upon request and execution of a confidentiality agreement.

• CAP approach

  CAP return

  Valuation

  6%

  $9,606,664

  6.5%

  $8,867,689

  7%

  $8,234,283

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,226,463

  Geo Method

  $9,226,463

• Alternative Use

  Use

  Valuation

  Residential

  $9,680,941

  Hospitality

  $8,867,689

  Educational

  $7,377,814

  Medical

  $7,631,548

  Retail

  $11,476,599

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.9795

Longitude

-83.1462

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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