1945 Southgate PkwyCambridge, OH 43725

Property Details for 1945 Southgate Pkwy

Property type

Hospitality properties

Property subtype

Hotels

APN

06-0009020.000

APU

60009020000

Description

This 95-key Quality Inn in Cambridge, Ohio, presents a compelling investment opportunity. Built in 1973, this two-story, exterior-corridor hotel is situated on a 9.8-acre lot with frontage on Southgate Parkway (22,125 vehicles per day) and Interstate-70 (41,598 vehicles per day). The property boasts consistently high occupancy rates, achieving penetration indices of 92% and 122% in 2022 and 2023, respectively. While occupancy is strong, the Average Daily Rate (ADR) presents an opportunity for increased revenue. Indices of 82% and 79% in 2022 and 2023, respectively, indicate potential for growth through strategic rate management. The hotel benefits from diverse demand generators, including tourism, medical, higher education, and commercial activity. A partial property improvement plan (PIP) has already been completed, including the payoff of solar panels, reducing utility costs. The property includes banquet/meeting space, offering an additional revenue stream. Offered at $2,500,000 ($26,000 per key), this fee-simple interest property is unencumbered by debt or third-party management. A hands-on operator can leverage the existing strong occupancy and implement strategies to significantly increase ADR and overall profitability.

Location Insight

City

Cambridge

County

Guernsey

State

Ohio

Latitude

40.0057

Longitude

-81.5744

CBSA code

15740

CBSA name

CAMBRIDGE, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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