Seller Financing Available!
Property Overview
Summary
- Room count 165 units
- Corridors Interior
- Buildings 1 building / 2 stories
- Year built 1973
- Amenities On-site manager's apartment
- HVAC Individual PTAC units
- Rubber Flat rubber; replaced in 2023
Investment Highlights
- — Interior-corridor property with desirable highway access and visibility along I-71.
- — High room count and large parcel provide multiple options for future owner - potential opportunities include converting the flag, dual-branding, or converting to alternative use.
- — SELLER FINANCING AVAILABLE with 25% down.
- — Tremendous upside opportunity: property is consistently ranked 6/6 in competitive set for occupancy and RevPAR. Potential revenue, adjusted for competitive set, is $1,894,071 – nearly $1M above current revenue.
- — Columbus was named the fastest-growing city in America by the Bank of America Institute.
- — Option to convert to extended stay: PIP available for Suburban Studios with key incentive money.
- — Includes standalone restaurant with liquor license generating $40,800 in annual rent.
Financial Performance
Room Revenue | $1,046,074 |
Restaurant Rental Income | 40,800 |
Occupancy | 28.4% |
ADR | $60.90 |
RevPAR | $17.32 |