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1940 Elida Rd Lima, OH 45805

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31-room motel on 2.29 acres near University campus.

Type:Hospitality
Lot size:
2.29 Acres
Added:
Jul 3, 2024
Days on Market:
659
Last Refresh:
Mar 17 at 1:26 pm

Property Features for 1940 Elida Rd

General Information

Standard status
Active
Lot size
2.29 Acres
Property subtype
Hospitality

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Listing Contact
Matt Cooper

Listing agent Matt Cooper License #2006007838

Listing office Equity LLC Hilliard

Listing date Jul 3, 2024

Source Crexi

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

All listing content including descriptions, pricing, images are the copyrighted material of Equity LLC Hilliard


Overview

Lima Motel Redevelopment Opportunity

This property presents a redevelopment opportunity featuring a 31-room, independent, operating, economy class motel. The property is situated on a +/- 2.29 acre lot. Zoned B-2, the site permits a wide array of commercial uses. It is located near the campus of The University of Northwestern Ohio, which had a 2021 full-time enrollment of 3,746 students. The property is also near the Lima Mall, which houses JC Penney, Hibbett Sports, Old Navy, Maurice’s, and Books-A-Million. Traffic counts show 10,610 vehicles per day on Elida Road and 7,599 vehicles per day on Robb Avenue. An additional, adjacent +/- 0.44 acre parcel with a 968 SF single family house is available separately.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Colonial Motel Hotel & Motel

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

Similar Places Nearby

  • Country Inn Motel 2002 Elida Rd, Lima, OH 45805
  • Fairfield Inn & Suites Lima 2179 Elida Rd, Lima, OH 45805
  • Masonic Lodge 2165 n cole st, lima, oh 45801
  • Colonial Motel 1940 Elida Rd, Lima, OH 45805

Location Insight

  • Map
  • Local Demand
City
Lima
County
Allen
State
Ohio
Longitude
-84.1378509
Latitude
40.7574944

FAQs

What type of property is this?
Motel - 31-room motel on 2.29 acres near University campus.
Where is this motel located?
The property is located at 1940 Elida Rd Lima, OH.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Redevelopment opportunity on a +/- 2.29 acre lot.; Zoned B‑2 allowing a wide array of permitted commercial uses.; Operating 31‑room independent motel provides immediate income potential.
More about this property
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