614-595-1144 [email protected]

4029 Marlane Drive, Grove City, OH 43123 (MLS# 223003465)


$2,600,000
4029 Marlane Drive
Grove City, OH 43123
MLS# 223003465
16623 sqft


4029 Marlane Drive, Grove City, OH 43123
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Property Description
This hotel is an incredible investment opportunity right off of the Stringtown Road exit; cash flowing business, sure to grow with all of the commercial and residential construction occurring in the area. Right off of the highway, this is a prime location for travelers and locals. The hotel has 44 rooms, including: 14 Singles, 28 Doubles, and 2 Suites. Both suites have a jacuzzi and stand up shower in them. The photos will show 5 different types of rooms including: King Handicapped Room, King Suite, Single Standard Room, Double Standard Room, and Carpeted Rooms. The Hotel also has vending machines, a laundry room, public restroom, a breakfast/beverage bar, and multiple seating areas. Additionally, there is a 2 Bedroom Owner's Suite and Apartment. Financials are available, see A2A notes.

Details
Documents
Location & Property Info
Original List Price: 2600000
List Price: $2,600,000
List Price/SqFt: 156.41
Sub-Type: Hotel/Motel
Street #: 4029
Street Name: Marlane
Street Suffix: Drive
County: Franklin
City (Mailing Addr): Grove City
State: OH
Zip Code: 43123
Corp LimitPerAuditor: Grove City
Township: Jackson
Office/Contract Info
Buy Brkr/Tenant Rep: Yes
BB/TR Amount: 1.5
BB/TR Amount Type: Percent
Sub Agency: No
Sold Non-MLS: No
Status: Active
MLS Entry Date: 2023-02-10
Active on MLS: 2023-02-13
For Sale: Yes
Exchange: No
For Lease: No
General Property Info
Total SqFt Available: 16623
Bldg Sq Ft: 16623
Max Cont Sqft Avail: 16623
Minimum Sqft Avail: 16623
Occupancy Rate: 45
Number of Units: 44
# of Floors Above Gr: 2
Total Parking: 75
Year Built: 1973
Use Code: 411 - HOTELS
Acreage: 1.21
Tax Info
Parcel #: 040-005536
Zoning: Commercial
Addl Parcel Numbers: 040-001269-00 Land Parcel is Adjacent, not included in sale but can be offered on as combination. See separate Land Listing for more details.
Tax Year: 2021
Tax Abatement: No
Taxes (Yrly): 38024
Income/Expenses
Gross Income: 524280.15
Total Expenses: 420718.75
Net Operating Income: 86748.24
Auction Info
Auction/Online Bidding Y/N: No
Property Features
Addl Acceptance Cond: None Known
Heat Fuel: Electric; Gas
Heat Type: Forced Air
Electric: 3 Phase; Single Phase
Sewer: Public Sewer
Services Available: Electric; Gas; Sanitary Sewer; Storm Sewer; Water
Construction: Block; Frame; Masonry; Metal
Mult Use: Hotel/Motel
MLS Primary PhotoSrc: Realtor Provided

Listing Office: Red 1 Realty

Listing Agent: Alon Melmed

Last Updated: February - 20 - 2024


The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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