1945 Southgate Pkwy Cambridge, OH 43725
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Property Features for 1945 Southgate Pkwy
General Information
- Property type
- Hotels
- Square Feet
- 36,318 SF
- Price / Square Foot
- $60
- Elevators
- N/A
- Lot Size
- 426,888 SF
Building Details
- Year Built
- 1973
- Buildings
- 3
- Stories
- 2
- Units
- 95
Overview
95-Room Hotel Investment Opportunity
This 95-room Quality Inn in Cambridge, Ohio, built in 1973, is situated on a 9.8-acre lot. The two-story hotel comprises five buildings with exterior corridors. A partial property improvement plan (PIP) has been completed. The property features paid-off solar panels. Located on Southgate Parkway, the site benefits from 22,125 vehicles passing daily, with access to Interstate-70 and its 41,598 vehicles daily. Demand is driven by tourism, medical, higher education, transient, and commercial activity, including proximity to Salt Fork State Park, Seneca Lake Park, The Wilds Conservation Center, and major employers like Colgate-Palmolive and Southeastern Equipment Company. The hotel has demonstrated high occupancy, outperforming competitors with occupancy penetration indices of 92% and 122% in 2022 and 2023, respectively. The average daily rate (ADR) penetration indices of 82% and 79% in 2022 and 2023, respectively, indicate potential for revenue growth through rate management strategies. A completed PIP would further enhance ADR and profitability. The property is offered fee simple, free of debt and third-party management. The property's location, 80 miles from John Glenn Columbus International Airport and with easy access to I-70 and I-77, adds to its appeal. The property size is 36318 units.
HighLights
- 95‑room Quality Inn in Cambridge, OH, priced at $2.2 million.
- Sits on a 9.8‑acre lot with high daily traffic counts from I‑70 and Southgate Parkway.
- Features paid‑off solar panels and a partial property improvement plan already completed.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quality Inn
Hotel & Motel
Location Insight
- Map
- Local Demand
- City
- Cambridge
- State
- Ohio
- Longitude
- -81.574402
- Latitude
- 40.005679
Nearby Similar for Sale
FAQs
What type of property is this?
Hotel - 95-room hotel, high occupancy, investment opportunity.
Where is this hotel located?
The property is located at 1945 Southgate Pkwy Cambridge, OH.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 95-room Quality Inn in Cambridge, OH, priced at $2.2 million.; Sits on a 9.8-acre lot with high daily traffic counts from I-70 and Southgate Parkway.; Features paid-off solar panels and a partial property improvement plan already completed.
