1945 Southgate Pky - Hospitality FOR SALE


Cambridge, OH 43725
$2,200,000 USD
520-664-4091
1945 Southgate Pky, Cambridge, OH for Sale
$2,200,000 USD
Hospitality - FOR SALE
1/48
null | Request Cap Rate

1945 Southgate Pky
Cambridge, OH 43725


HIGHLIGHTS

  • Situated on 9.8 Acre Lot
  • Priced at $26k/Key
  • Absentee Managed with ADR Penetration Index of 79% | Occupancy Penetration Indices of 92% and 122% (2022 & 2023 respectively)
  • Upside for Owner-Operator who can Enact Aggressive Sales & Rate Management Strategy
  • Includes Banquet Meeting Space, providing additional Revenue Stream
  • Partial PIP Completed - Solar Panels Paid off, which decreases Utility Costs

OVERVIEW

NewGen Advisory is pleased to present to qualified investors the Quality Inn located in Cambridge, Ohio. The subject property is a two-story, exterior corridor, five-building property, built in 1973 and sits on a 9.8 acre parcel. The asset is a limited-service hotel with frontage on Southgate Parkway (22,125 Vehicles Per Day) and is located off Interstate-70 (41,598 Vehicles Per Day). The property is offered with fee simple interest, unencumbered by debt and unencumbered by third-party management. The hotel consists of 95 rooms and benefits from a variety of stable demand generators including tourism/leisure, medical, higher education, transient and commerce. Immediate upside is evident to prospective purchasers in the STR report, which is comprised of Days Inn Cambridge, Baymont by Wyndham Cambridge, Comfort Inn Cambridge and Best Western Cambridge. While the hotel has consistently outperformed the competitive set in occupancy with occupancy penetration indices of 92% and 122% in the 2022 and 2023 respectively, the hotel has lagged the competitive set in ADR, achieving ADR penetration indices of just 82% and 79% in 2022 and 2023 respectively. This ADR penetration signals potential revenue growth upside for a hands-on operator who can employ rate management strategies to bring room rates further in line with the competitive set. Upon the completion of a change-in ownership PIP, an operator will be able to increase the ADR, and therefore increase returns.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$61 USD /SF

# OF ROOMS

95

PRICE/ROOM

$23,158 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn Cambridge

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1973

PARKING SPACES

120

LAND DETAILS

LAND ACRES

9.8 AC

LAND SF

426,888 SF

ZONING

GSC

APN/PARCEL ID

06-0009020.000,07-0000008.008

ASK ABOUT THIS PROPERTY

Jigar DesaiNewGen AdvisoryMore Info
520-664-4091

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Jigar DesaiNewGen AdvisoryMore Info
520-664-4091

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.