Rodeway Inn Columbus 1313 W Saint James Lutheran Way

INVESTMENT HIGHLIGHTS
• 107 Unit, 2 Story Exterior Corridor Hotel (117 units total, but 7 units are being used for management and apartments.)
• Parcel: 570-207089-00
• Recent Upgrades Include New mattresses, Linen’s etc
• Room Revenue $1,194,382 in 2022, $1,100,950 2023 and as of 9/3 Rev is $804,439 compared to last year $739,446 which is up by
64,993 more than last year and targeting same $1.2M like 2022
• Perfect for Owner-Operator; 2 Bedroom Managers and 1 Bedroom Housekeeper Apartment
EXECUTIVE SUMMARY
The Rodeway Inn is a 107 room, 2 story exterior corridor hotel, located in Columbus West Interstate I-70 just after exit 91B.
There is a 2 bedroom Owner’s and 1 Bedroom manager's apartment with kitchenette, making the hotel perfect for an owner-operator. Spent approximately $100,000 in renovation. This hotel is walking distance from all big brand hotels like Fairfield Inn, Hampton Inn, Holiday Inn and many more hotels in one of the busiest exit next to all big retail store like Wal-Mart, Sams club, Chase, Hobby Lobby, Mc Donald, Wendy’s, AMC theater and much more.
Columbus is the State Capital, and home to OSU (third largest University in the US). Other area attractions include the Columbus Zoo, COSI, National Veterans Museum, Columbus Museum of Art, The Greater Columbus Convention Center and North Market. Sports demand includes the Columbus Blue Jackets (Hockey), Columbus Clippers (Baseball) and the Columbus Crew (Soccer) in addition to OSU athletics, as well as youth sports. Over $50 Billion dollars in new development is ongoing within the Metro area, leading the Mid-Ohio Regional Planning Commission (MORPC) to forecast that Columbus’ population will exceed 3 million by 2050 (a 30% increase in population).
• The OSU Campus area location provides a highly durable source of demand. The combination of medical and educational demand backfilled with leisure and corporate create a durable income stream. With over $3B in immediate area development (OSU and United Healthcare), continued growth in lodging demand is expected.
• Within few miles of over 3,100 hospital beds (including the new 820 bed Wexner Medical Center to be delivered in 2026). Current bed count is 2,668 beds.
• The significant amount of Columbus area development has focused National attention on the market. As employment growth continues, population is projected to grow. The Mid-Ohio Regional Planning Commission (MORPC) forecasts that population in the metro area will grow by 30% to over 3 Million by 2050.
• $28B Intel Project just outside Columbus
Intel is investing more than $28 billion in two new leading-edge chip factories in Ohio to boost production to meet demand for advanced semiconductors, power a new generation of innovative products from Intel, and serve the needs of foundry customers. The plant is currently under construction with plans to be fully operational by 2027 or 2028. Spanning nearly 1,000 acres in Licking County, just outside Columbus, the “mega-site” can accommodate a total of eight chip factories as well as supporting operations and ecosystem partners.
• Facebook to expand New Albany campus
• AWS Readies $3.5B for 5 More Ohio Data Centers in Booming Columbus Suburb New Albany
• Honda investing $700M plants to set the stage for EV production
• Google_s to invest $2.3B data center