701 Pike StMarietta, OH 45750

Property Details for 701 Pike St

Lot size

1.99 AC

Property type

Commercial land

APN

240001752000

APU

240001752000

Description

This 108-key Baymont by Wyndham hotel in Marietta, Ohio presents a compelling value-add investment opportunity. Located at 701 Pike St, this two-story, 65,877 square foot property sits on a 5.75-acre lot and features 168 parking spaces. Built in 1970, the hotel boasts an outdoor pool, fitness center, breakfast area, and a 125-person capacity meeting room, along with an inactive on-site bar. Currently operating at 40% occupancy (as of August 31, 2024), the hotel offers significant upside potential. The property's current room revenue is $768,359, with an ADR of $49.30 and RevPAR of $19.44. The hotel benefits from its location in Marietta, the county seat of Washington County, Ohio, a region with diverse economic drivers including Marietta College, Washington State Community College, Memorial Health System, and Eramet Marietta. Its proximity to Parkersburg, WV, further enhances its market appeal. The property is being offered as a fee-simple interest with a starting bid of $500,000 via a Ten-X auction (November 18-20, 2024). The hotel features individual room PTAC units, a flat rubber roof, and one elevator. The property's current management structure presents an opportunity to streamline expenses and improve net operating income (NOI). This auction presents a chance to acquire a hotel at a significant discount to replacement cost. The property is zoned commercial.

• Alternative Use

  Use

  Valuation

  Residential

  $17,918,946

  Hospitality

  $16,413,658

  Educational

  $13,655,970

  Medical

  $14,125,620

  Retail

  $21,242,620

Location Insight

City

Marietta

County

Washington

State

Ohio

Latitude

39.4083

Longitude

-81.4205

CBSA code

31930

CBSA name

MARIETTA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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