325 Columbia StSpringfield, OH 45504
- Hospitality properties
- 29,656 SF
Property Details for 325 Columbia St
- Year built
- 1963
- Construction
- FRAME
- Lot size
- 0.33 AC
- Property size (Sq ft)
- 29,656 SF
- Property type
- Hospitality properties
- Property subtype
- Motels
- APN
- 340-07-00035-320-001
- APU
- 3400700035320001
Description
This exceptional commercial property in Springfield, OH, presents a prime investment opportunity. The 26,656 square foot, two-story building currently operates as a 78-unit economy motel, featuring a mix of King and Double Queen suites, designed to cater to diverse guest needs. Situated on a 2-acre lot comprised of five parcels (3400035320002, 3400700035320003, 34007000353220004, 3400700035320005, 340070035320006
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $6,463,498
- 6.5%
- $5,966,306
- 7%
- $5,540,141
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,372,228
- Geo Method
- $1,372,228
-
Alternative Use
- Use
- Valuation
- Residential
- $6,513,472
- Hospitality
- $5,966,306
- Educational
- $4,963,896
- Medical
- $5,134,612
- Retail
- $7,721,616
Location Insight
- City
- Springfield
- County
- Clark
- State
- Ohio
- Latitude
- 39.9261
- Longitude
- -83.8171
- CBSA code
- 44220
- CBSA name
- SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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- Please email our support team at [email protected] and they will add the team member.
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- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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