Quality Inn Cambridge | 1945 Southgate Pky
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Quality Inn Cambridge 1945 Southgate Pky
95 Room Hotel Cambridge, OH 43725 $2,200,000 ($23,158/Room)
Investment Highlights
- Situated on 9.8 Acre Lot
- Absentee Managed with ADR Penetration Index of 79% | Occupancy Penetration Indices of 92% and 122% (2022 & 2023 respectively)
- Includes Banquet Meeting Space, providing additional Revenue Stream
- Priced at $26k/Key
- Upside for Owner-Operator who can Enact Aggressive Sales & Rate Management Strategy
- Partial PIP Completed - Solar Panels Paid off, which decreases Utility Costs
Executive Summary
NewGen Advisory is pleased to present to qualified investors the Quality Inn located in Cambridge, Ohio. The subject property is a two-story, exterior corridor, five-building property, built in 1973 and sits on a 9.8 acre parcel. The asset is a limited-service hotel with frontage on Southgate Parkway (22,125 Vehicles Per Day) and is located off Interstate-70 (41,598 Vehicles Per Day). The property is offered with fee simple interest, unencumbered by debt and unencumbered by third-party management.
The hotel consists of 95 rooms and benefits from a variety of stable demand generators including tourism/leisure, medical, higher education, transient and commerce. Immediate upside is evident to prospective purchasers in the STR report, which is comprised of Days Inn Cambridge, Baymont by Wyndham Cambridge, Comfort Inn Cambridge and Best Western Cambridge. While the hotel has consistently outperformed the competitive set in occupancy with occupancy penetration indices of 92% and 122% in the 2022 and 2023 respectively, the hotel has lagged the competitive set in ADR, achieving ADR penetration indices of just 82% and 79% in 2022 and 2023 respectively. This ADR penetration signals potential revenue growth upside for a hands-on operator who can employ rate management strategies to bring room rates further in line with the competitive set. Upon the completion of a change-in ownership PIP, an operator will be able to increase the ADR, and therefore increase returns.
The hotel consists of 95 rooms and benefits from a variety of stable demand generators including tourism/leisure, medical, higher education, transient and commerce. Immediate upside is evident to prospective purchasers in the STR report, which is comprised of Days Inn Cambridge, Baymont by Wyndham Cambridge, Comfort Inn Cambridge and Best Western Cambridge. While the hotel has consistently outperformed the competitive set in occupancy with occupancy penetration indices of 92% and 122% in the 2022 and 2023 respectively, the hotel has lagged the competitive set in ADR, achieving ADR penetration indices of just 82% and 79% in 2022 and 2023 respectively. This ADR penetration signals potential revenue growth upside for a hands-on operator who can employ rate management strategies to bring room rates further in line with the competitive set. Upon the completion of a change-in ownership PIP, an operator will be able to increase the ADR, and therefore increase returns.
Property Facts
| Price | $2,200,000 | Building Size | 36,318 SF |
| Price Per Room | $23,158 | No. Rooms | 95 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1973 |
| Property Subtype | Hotel | Parking Ratio | 3.3/1,000 SF |
| Building Class | B | Corridor | Exterior |
| Lot Size | 9.80 AC |
| Price | $2,200,000 |
| Price Per Room | $23,158 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 9.80 AC |
| Building Size | 36,318 SF |
| No. Rooms | 95 |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 3.3/1,000 SF |
| Corridor | Exterior |
Amenities
- Pool
- Restaurant
- On-Site Bar
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 95 | $74.00 | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $610,166 | |
| Land Assessment | $132,125 | Total Assessment | $742,291 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$132,125
Improvements Assessment
$610,166
Total Assessment
$742,291
zoning
| Zoning Code | GSC (General Service Commercial District.) |
| GSC (General Service Commercial District.) |
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Quality Inn Cambridge | 1945 Southgate Pky
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