1940 Elida Rd Lima, OH 45805
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
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
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
Nearby Similar for Sale
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.
