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1940 Elida Rd Lima, OH 45805

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31-Room Motel, Prime Location, High Traffic Area

Property Features for 1940 Elida Rd

General Information

Property type
Motels

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Listing Contact
Matt Cooper
Matt Cooper

Listing Agency: Equity LLC Hilliard Listing Agent: Matt Cooper

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

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Property Insight Report

Overview

This 31-room economy-class motel in Lima, Ohio presents a unique investment opportunity. Currently operating, the property offers significant redevelopment potential. Situated on a +/- 2.29-acre lot zoned B-2, it allows for a wide range of commercial uses. The motel enjoys a high-traffic location on Elida Road (10,610 vehicles daily) and is near Robb Avenue (7,599 vehicles daily). Its proximity to The University of Northwestern Ohio (3,746 full-time students in 2021) and the Lima Mall (anchored by JC Penney, Hibbett Sports, Old Navy, Maurice's, and Books-A-Million) provides strong potential for increased occupancy and revenue. An additional +/- 0.44-acre parcel with a 968 square foot single-family house is available separately. The asking price for this exceptional property is $900,000. This presents a compelling opportunity for investors seeking a hospitality asset with significant upside.
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.

Location Insight

  • Map
  • Local Demand
City
Lima
County
Allen
State
Ohio
Longitude
-84.1375824
Latitude
40.7576753

FAQs

What type of property is this?
Motel - 31-Room Motel, Prime Location, High Traffic Area
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.
(614) 334-7805 Call to check price and availability
More about this property
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