11555 Upper Gilchrist Rd Mount Vernon, OH 43050
- Hospitality properties
- 33,582 SF
- 1.46 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 11555 Upper Gilchrist Rd
- Year built
- 1998
- Lot size
- 1.46 lot acres
- Property size
- 33,582 SF
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This fee-simple, 70-key Holiday Inn Express in Mount Vernon, Ohio, presents a compelling investment opportunity. Built in 1998, this three-story, 33,582 square foot, interior-corridor hotel sits on a 1.46-acre lot at 11555 Upper Gilchrist Rd, conveniently located off Route 36/Coshocton Ave (20,387 vehicles per day). The property is unencumbered by debt or third-party management, offering significant operational control to the new owner. In 2023, the hotel generated approximately $1.7 million in revenue and $764,500 in net operating income (NOI), with projections for similar or improved performance in 2024. Its strong performance is evidenced by its consistent ranking among the top hotels in its competitive set, boasting a RevPAR penetration index consistently above 110%. Key demand drivers include nearby Kenyon College and Mount Vernon Nazarene University (with a combined enrollment exceeding 3,400 students), and the popular Mohican State Park, attracting over 1.5 million visitors annually. A long-term franchise agreement with IHG is expected upon completion of a change-of-ownership property improvement plan (PIP), which is anticipated to further enhance the hotel's ADR and RevPAR. This presents a rare chance to acquire a well-positioned, high-performing hotel in a growing market. The property is offered unpriced; ownership will review and respond to all offers.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mount Vernon
- County
- Knox
- State
- Ohio
- Longitude
- -82.4383
- Latitude
- 40.4016
