Unbranded Hotel Conversion | Opportunity Zone 11 S Ludlow St 184 Hotel Rooms Online Auction Sale Dayton, OH 45402
INVESTMENT HIGHLIGHTS
- Ideally located 12-story, 184-room vacant hospitality building situated on a highly visible corner lot in the heart of historic Downtown Dayton, Ohio.
- Unbranded hotel opportunity primed for an investor seeking to add value through a new franchise or luxury apartment conversion in a sought-after MSA.
- Conveniently sited 13 miles from the Dayton International Airport (DAY) and about a one-hour drive to nearby major cities Cincinnati and Columbus.
- Significantly equipped with an on-site covered parking garage, well-established 1.3 miles from the I-75/US 35 interchange and 7.5 miles from I-70.
- Beneficially positioned in an Opportunity Zone, offering potential historic tax credits for a new owner seeking to revitalize and achieve strong ROI.
- Zoned for Multifamily or Hotel | Absolute auction | Starting bid $1
EXECUTIVE SUMMARY
Property tours will be held Monday, April 7th. Please contact Larissa Isenberg for scheduling at 602-997-3817 or email them at Larissa.Isenberg@berkadia.com.
11 S Ludlow Street presents to the market an 184-room vacant former Dayton Grand Hotel located on a highly visible 0.45-acre corner lot in Dayton, Ohio. The twelve-story hospitality asset features build-outs of a restaurant and lounge, an indoor pool, a fitness center, a business center, 5,925 square feet of meeting and event space, and an on-site covered parking garage. The property presents investors with the opportunity to acquire a well-located hotel fully unencumbered by brand and management that is prime for conversion to a new hotel franchise or as a possible conversion from hotel to luxurious apartment living.
Downtown Dayton provides an eclectic neighborhood, full of vibrant arts, nightlife, employment, and dining. The Dayton metropolitan area is home to over 800,000 residents and is commonly referred to as the Crossroads of America. 11 S Ludlow Street benefits from its positioning to major highways via a quick 3-minute commute to the Interstate 75 and US Route 35 interchange and a 10-minute drive to Interstate 70. This close highway connectivity provides seamless access to the Dayton International Airport (DAY) as it is a 16-minute drive from the property.
Dayton is strategically located about a one-hour drive from Columbus and Cincinnati, providing residents with even more employment, entertainment, and recreation opportunities in central and southern Ohio. With over 17,000 businesses, Dayton has many economic drivers, including the Wright-Patterson Air Force Base, which supports approximately 30,000 direct jobs.
Dayton consistently receives high regard from numerous reputable sources, including The U.S. News and World Report, which ranked Dayton among the Best Places to Live in the US. Dayton continues to be a sought-after place to call home, which is why this area attracts new businesses and residents year over year.
11 S Ludlow Street presents a prime acquisition opportunity with strong potential for a solid return on investment. Located in an Opportunity Zone, the property offers potential tax incentives, making it an ideal candidate for rebranding or redevelopment in the sought-after Dayton market.
Property tours are available by appointment only. Please contact the broker to schedule.
11 S Ludlow Street presents to the market an 184-room vacant former Dayton Grand Hotel located on a highly visible 0.45-acre corner lot in Dayton, Ohio. The twelve-story hospitality asset features build-outs of a restaurant and lounge, an indoor pool, a fitness center, a business center, 5,925 square feet of meeting and event space, and an on-site covered parking garage. The property presents investors with the opportunity to acquire a well-located hotel fully unencumbered by brand and management that is prime for conversion to a new hotel franchise or as a possible conversion from hotel to luxurious apartment living.
Downtown Dayton provides an eclectic neighborhood, full of vibrant arts, nightlife, employment, and dining. The Dayton metropolitan area is home to over 800,000 residents and is commonly referred to as the Crossroads of America. 11 S Ludlow Street benefits from its positioning to major highways via a quick 3-minute commute to the Interstate 75 and US Route 35 interchange and a 10-minute drive to Interstate 70. This close highway connectivity provides seamless access to the Dayton International Airport (DAY) as it is a 16-minute drive from the property.
Dayton is strategically located about a one-hour drive from Columbus and Cincinnati, providing residents with even more employment, entertainment, and recreation opportunities in central and southern Ohio. With over 17,000 businesses, Dayton has many economic drivers, including the Wright-Patterson Air Force Base, which supports approximately 30,000 direct jobs.
Dayton consistently receives high regard from numerous reputable sources, including The U.S. News and World Report, which ranked Dayton among the Best Places to Live in the US. Dayton continues to be a sought-after place to call home, which is why this area attracts new businesses and residents year over year.
11 S Ludlow Street presents a prime acquisition opportunity with strong potential for a solid return on investment. Located in an Opportunity Zone, the property offers potential tax incentives, making it an ideal candidate for rebranding or redevelopment in the sought-after Dayton market.
Property tours are available by appointment only. Please contact the broker to schedule.
DATA ROOM Click Here to Access
- Operating and Financial Statements
- Purchase Agreement
- Miscellaneous
- Title & Insurance
- Third Party Reports
- Leases
- PIP
MARKET ANALYTICS Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
12 Month Sales Volume
Total
Lowest
Highest
Transactions
999
-
-
Sales Volume
$99,999
$99,999
$99,999
Properties Sold
999
-
-
Transacted Rooms
999
999
999
Average Rooms
999
999
999
9.9%
Market Cap Rate
9.9%
Market Sale Price/Room Change (YOY)
12 Month Sales Price
Average
Lowest
Highest
Market
Cap Rate
9.9%
9.9%
9.9%
9.9%
Sale Price/Room
$99,999
$99,999
$99,999
$99,999
Sale Price
$99,999
$99,999
-
-
Sale vs Asking Price
-9.9%
-9.9%
-9.9%
-
Months to Sale
9.9%
9.9%
9.9%
-
Market Sale Price per Room
Dayton/Springfield - OH USA
Market Cap Rate
Dayton/Springfield - OH USA
Market Sale Price per Room by Class
Luxury & Upper Upscale
Upscale & Upper Midscale
Midscale & Economy
Market Cap Rate by Class
Luxury & Upper Upscale
Upscale & Upper Midscale
Midscale & Economy
Market Sale Price per Room Distribution
Market Cap Rate Distribution
PROPERTY FACTS
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 138,564 SF |
| No. Rooms | 184 |
| No. Stories | 12 |
| Year Built/Renovated | 1896/1998 |
| Parking Ratio | 0.72/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
AMENITIES
- Business Center
- Fitness Center
- Pool
- Restaurant
- Shuttle Service
- On-Site Retail
- On-Site Bar
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 27 | $119.00 | - |
| Guest Room | 157 | $79.00 | - |
1 of 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | R72-00501-0010 | Improvements Assessment | $607,220 |
| Land Assessment | $124,660 | Total Assessment | $731,880 |
SALE ADVISORS
SALE ADVISORS
Kyle Stevenson, Managing Director
(703) 888-6578
Contact
Kyle is a managing director specializing in investment sales for the Berkadia Hotels & Hospitality group. Prior to joining Berkadia, Kyle was a senior broker for another hotel-specific brokerage firm in the Washington, DC area. Kyle has successfully structured and completed hotel sales transactions totaling more than $1 billion. Kyle specializes in full and select service hotels in the upscale and upper upscale categories.
Over the course of his career, Kyle has developed extensive resources and relationships with hotel owners, private equity funds, family offices and lenders/special servicers. Kyle has been a speaker and presenter at numerous conferences and industry events. He is a part of the faculty at the Hospitality Law program at the American University College of Law in Washington, DC.
Kyle is a graduate of Georgetown University where he earned a degree in International Economics.
Over the course of his career, Kyle has developed extensive resources and relationships with hotel owners, private equity funds, family offices and lenders/special servicers. Kyle has been a speaker and presenter at numerous conferences and industry events. He is a part of the faculty at the Hospitality Law program at the American University College of Law in Washington, DC.
Kyle is a graduate of Georgetown University where he earned a degree in International Economics.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT
Derek Rudd
Contact
Auctioneer License:
Ten-X Commercial, LLC Samantha Corbat RE Brkr REC.2019003563; Ohio Department of Agriculture- Auctioneer Program: Ten-X Commercial, Inc. (Ten-X, Inc.) Auctioneer Corporation 2022000147 Samantha Corbat Auctioneer 2023000126
