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1901 Clark Ave Wellsville, OH 43968

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For Sale
$600,000

Operating multifamily asset with motel license and value-add potential.

Lot size:
0.11 Acres

Property Features for 1901 Clark Ave

General Information

Lot size
0.11 Acres

Building Details

Year built
1957

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Listing Contact
Elvis A. Amor
Source: Cbcworldwide

Listing Agent: Elvis A. Amor

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Wellsville Motel Value-Add Opportunity

Located at 1901 Clark Ave, Wellsville, OH 43968, this property is situated on 0.1148 acres and zoned C-5 District. The property, built in 1970, consists of 7 units within a 2,034 SF building. It currently operates as a fully occupied multifamily asset, generating income. The unit mix includes six studio units averaging approximately 275 SF, rented at $675, and one 1-bedroom/1-bath unit of approximately 300 SF, rented at $775. The property has an active motel license, allowing for continued hotel operations. The next operator has the opportunity to convert the units back to motel use and operate with an existing average daily rate (ADR) of $110 and a revenue per available room (RevPAR) of $62.49.
Location Intelligence

Current Use by Public Records

Motels

Suggested Use

Law Firm Restaurant Auto Repair Shop Daycare Center Storage Facility Arcade & Gaming Center (Bike/Boat/Book/etc) Store Parking Lot & Garage

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Mountaineer Casino Resort, Mountaineer Grand Hotel

Location Insight

  • Map
  • Local Demand
City
Wellsville
County
Columbiana
State
Ohio
Longitude
-80.6647745
Latitude
40.5956936

FAQs

What type of property is this?
Motel - Operating multifamily asset with motel license and value-add potential.
Where is this motel located?
The property is located at 1901 Clark Ave Wellsville, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: - Active motel license allows for immediate hotel operations.; - Currently operating as a fully occupied multifamily asset generating stable income.; - Value-add opportunity to convert back to motel use with existing ADR of $110 and RevPAR of $62.49.
More about this property
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