441 Ackerman Rd - Hospitality FOR SALE


Columbus, OH 43202- Riverview
$2,750,000 USD
614-629-5236
441 Ackerman Rd, Columbus, OH for Sale
$2,750,000 USD
Hospitality - FOR SALE
1/12
null | Request Cap Rate

441 Ackerman Rd
Columbus, OH 43202
Riverview


HIGHLIGHTS

  • High-Profile Hotel Ground Lease For Sale
  • $3M Renovation by Red Roof Underway
  • Base Term Through 2049
  • 10% Rental Increases Every 5 Years
  • 5-Year Options Through 2079
  • 1% to Cooperating Broker

OVERVIEW

This high-profile hotel ground lease offers a strong long-term investment with a base term running through 2049 and five-year extension options available through 2079. The Red Roof property is currently undergoing a $3 million renovation and includes 113 total rooms situated on 2.64 acres. The lease features 10% rental increases every five years and benefits from its close proximity to The Ohio State University.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$79 USD /SF

# OF ROOMS

115

PRICE/ROOM

$23,913 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Red Roof PLUS+ Columbus–Ohio State University

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1984

PARKING SPACES

121

LAND DETAILS

LAND ACRES

2.83 AC

LAND SF

123,275 SF

ZONING

CAC

APN/PARCEL ID

010-294268,010-294269

ASK ABOUT THIS PROPERTY

Mike SimpsonNAI Ohio Equities LLCMore Info
614-629-5236

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Mike SimpsonNAI Ohio Equities LLCMore Info
614-629-5236

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