887 Morse Rd - Hospitality FOR SALE


Columbus, OH 43229- Maize-Morse
$4,800,000 USD
317-493-0055
887 Morse Rd, Columbus, OH for Sale
$4,800,000 USD
Hospitality - FOR SALE
1/5
null | 11.46% Cap Rate

887 Morse Rd
Columbus, OH 43229
Maize-Morse


HIGHLIGHTS

  • TURNKEY PROPERTY – The hotel will have minimal outstanding PIP as the owner has continued to renovate the property over the last three years.
  • COLUMBUS GROWTH – Columbus has experienced a 9% RevPAR growth over the past 12 months and is projected to continue rising over the next 18 months
  • CASH FLOWING BUSINESS – Given the limited-service nature of the hotel, the new owner will be able to maintain the low expense load of 58%
  • LOCATED NEAR MULTIPLE DEMAND DRIVERS – Just off the I-71 in North Columbus, the hotel experiences demand from various areas including leisure

OVERVIEW

Luke Whittaker and Mitchell Glasson are pleased to present this exceptional opportunity to acquire a well-located, 134-room Baymont Inn & Suites at 887 Morse Rd, Columbus, OH. Situated just off Interstate 71 and Morse Road, the property benefits from a high-traffic location with 115,000 vehicles per day. It is surrounded by key demand drivers, including Ohio State University, the Ohio State Fairgrounds, Nationwide Arena, and John Glenn Columbus International Airport, which drive consistent occupancy. The Columbus market has experienced one of the highest RevPAR growths in the country, up 9% in the past year, with continued growth expected. The hotel underwent a 2022 renovation, and there is minimal outstanding PIP for the new owner. With strong future growth potential and the opportunity to leverage the city’s relationship to outperform the comp set, this hotel offers a prime investment in a thriving market. Broker of Record Matt Wallace License No. REC.2022007141 (OH) (866) 889-0550 Matthews Real Estate Investment Services, Inc 950 Main Ave., Suite 510, Cleveland, OH 44113

FOR SALE DETAILS

PRICE

$4,800,000 USD

PRICE/SF

$109 USD /SF

# OF ROOMS

134

PRICE/ROOM

$35,821 {currency}

CAP RATE

11.46%

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Baymont Inn and Suites by Wyndham Columbus

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1989

PARKING SPACES

131

LAND DETAILS

LAND ACRES

2.36 AC

LAND SF

102,802 SF

ZONING

CPD, Columbus

APN/PARCEL ID

010-103360,010-274713

ASK ABOUT THIS PROPERTY

Luke WhittakerMatthews Real Estate Investment ServicesMore Info
317-493-0055

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Luke WhittakerMatthews Real Estate Investment ServicesMore Info
317-493-0055

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