278 S Glenwood Ave - 278 S Glenwood
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278 S Glenwood Ave - 278 S Glenwood
0.1 Acres of Commercial Land Offered at $930,000 in Columbus, OH 43223
Virtual Tour
Investment Highlights
- Prime Location: 278 S Glenwood Ave, Columbus—great access to major roads and downtown amenities in a fast-growing area.
- Zoning Flexibility: Located in a Manufacturing District with flexible zoning that permits hotel development without rezoning.
- 7-Story Hotel Plan: By Right 7-story, 78-room hotel use with modern amenities, ideal for business and leisure travelers.
- Highest and Best Use: Hotel and hospitality are the ideal use for this site, offering strong potential in the booming Columbus market.
- 60' Height by Right: Rare 60-foot height allowance by right in a Manufacturing District, perfect for maximizing development potential.
- Parking Reduction Supported: Parking reduction supported by a conducted study, pending BZA approval, currently in final approval stages.
Executive Summary
Prime Development Opportunity: 7-Story Hotel in Columbus, Ohio
Please find all supporting files, including the appraisal report, development underwriting, zoning text, site plan, and renderings, in the files section.
Property Address: 278 South Glenwood Avenue, Columbus, OH 43223
Overview:
Seize a prime investment opportunity in the rapidly growing Columbus market. This 0.1-acre site, currently zoned as a Manufacturing District, is set for a 7-story hotel development. We are seeking capital equity partners and co-general partner sponsors to collaborate on this project. With final zoning clearances and parking reduction approval pending, this is a unique chance to contribute to a transformative project, with groundbreaking targeted for 2025.
Property Details:
Appraised Value: $930,000 (Colliers report, July 2024, contingent on final zoning clearance)
Current Status: Vacant land, zoned Manufacturing District (M)
Proposed Development:
Building Size: 22,500 GSF (Gross Square Feet)
Hotel Rooms: 78
Height: Up to 7 stories or 70' by right
Features: Rooftop amenity deck, lobby, and basement utilities
Parking: Seeking a parking reduction variance to accommodate urban density and transit access and offsite parking within 750'
Development Highlights:
Zoning Status: Currently zoned Manufacturing District (M). We are applying for final zoning clearances to accommodate the hotel use and to reduce parking requirements.
Parking Study: A comprehensive study supports a parking reduction, aligning with the transit-oriented location and existing on-street parking availability submitted for final BZA approval.
Hotel Features: The proposed 7-story hotel includes 78 rooms with modern amenities, catering to business travelers and tourists.
Transit Accessibility: The site is located in a transit-oriented area with nearby bus stops, enhancing convenience for guests without personal vehicles.
Community Impact: The development is expected to contribute positively to the local economy by creating jobs and providing additional accommodations for visitors.
Investment Opportunity:
Capital Partnerships & Co-General Partner Sponsors: Pink Development and Construction LLC is seeking equity partners or co-general partners to finance the project or cash sale buyout at full listing price. All joint equity proposals will be considered.
Recapitalization Structures: Open to strategies to recapitalize and cover engineering and architectural plans, with a goal to break ground in early 2025 with delivery in early 2026.
Financials & Due Diligence:
Underwriting: Detailed financials and proformas are available for review. Pink Development and Construction LLC is committed to providing transparent and comprehensive data to assist in due diligence.
Act Now: This is a limited-time opportunity to partner on a high-profile hotel development in the growing Columbus market.
Contact Robert Ellis at Pink Development and Construction LLC for more information about partnership opportunities, recapitalization options, and to review the financial overview.
Please find all supporting files, including the appraisal report, development underwriting, zoning text, site plan, and renderings, in the files section.
Property Address: 278 South Glenwood Avenue, Columbus, OH 43223
Overview:
Seize a prime investment opportunity in the rapidly growing Columbus market. This 0.1-acre site, currently zoned as a Manufacturing District, is set for a 7-story hotel development. We are seeking capital equity partners and co-general partner sponsors to collaborate on this project. With final zoning clearances and parking reduction approval pending, this is a unique chance to contribute to a transformative project, with groundbreaking targeted for 2025.
Property Details:
Appraised Value: $930,000 (Colliers report, July 2024, contingent on final zoning clearance)
Current Status: Vacant land, zoned Manufacturing District (M)
Proposed Development:
Building Size: 22,500 GSF (Gross Square Feet)
Hotel Rooms: 78
Height: Up to 7 stories or 70' by right
Features: Rooftop amenity deck, lobby, and basement utilities
Parking: Seeking a parking reduction variance to accommodate urban density and transit access and offsite parking within 750'
Development Highlights:
Zoning Status: Currently zoned Manufacturing District (M). We are applying for final zoning clearances to accommodate the hotel use and to reduce parking requirements.
Parking Study: A comprehensive study supports a parking reduction, aligning with the transit-oriented location and existing on-street parking availability submitted for final BZA approval.
Hotel Features: The proposed 7-story hotel includes 78 rooms with modern amenities, catering to business travelers and tourists.
Transit Accessibility: The site is located in a transit-oriented area with nearby bus stops, enhancing convenience for guests without personal vehicles.
Community Impact: The development is expected to contribute positively to the local economy by creating jobs and providing additional accommodations for visitors.
Investment Opportunity:
Capital Partnerships & Co-General Partner Sponsors: Pink Development and Construction LLC is seeking equity partners or co-general partners to finance the project or cash sale buyout at full listing price. All joint equity proposals will be considered.
Recapitalization Structures: Open to strategies to recapitalize and cover engineering and architectural plans, with a goal to break ground in early 2025 with delivery in early 2026.
Financials & Due Diligence:
Underwriting: Detailed financials and proformas are available for review. Pink Development and Construction LLC is committed to providing transparent and comprehensive data to assist in due diligence.
Act Now: This is a limited-time opportunity to partner on a high-profile hotel development in the growing Columbus market.
Contact Robert Ellis at Pink Development and Construction LLC for more information about partnership opportunities, recapitalization options, and to review the financial overview.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Third Party Reports
- Title and Insurance
- Miscellaneous
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $930,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| Sale Conditions | Total Lot Size | 0.10 AC | |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land |
| Price | $930,000 |
| Sale Type | Investment |
| Sale Conditions | |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.10 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $930,000 | Lot Size | 0.10 AC |
| Price Per AC | $9,300,000 |
| Price | $930,000 |
| Price Per AC | $9,300,000 |
| Lot Size | 0.10 AC |
0.1-acre site at 278 S Glenwood Avenue, permitted use is hotel. Current site plan submitted for final zoning clearance for hotel use. Development will feature a seven-story hotel with 78 suites, two retail spaces, and a rooftop amenity deck.
Description
Property Description: 7-Story Hotel Development Opportunity Located at 278 S Glenwood Avenue, Columbus, OH, this 0.1-acre site presents an exciting opportunity for the development of a 7-story hotel in the heart of a rapidly transforming urban district. The property is currently zoned M (Manufacturing District), with hotel use permitted by right under the Columbus City Zoning Code. Situated near key transportation routes and close to major downtown attractions, this location offers excellent visibility and accessibility for business and leisure travelers alike. The proposed project includes 78 hotel rooms, rooftop amenities, and a ground-floor lobby, providing a modern and comfortable guest experience. A parking reduction request is in progress, supported by a study highlighting nearby on-street parking availability and public transit access. This prime development site is positioned to capitalize on Columbus’s growing hospitality market, with the potential to contribute significantly to the area’s economic growth. Contact us today to explore this exceptional opportunity and to review project details, investment partnerships, and financial insights. Don’t miss the chance to be part of this premier development. For more information, reach out to Robert Ellis at Pink Development and Construction LLC.
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Red Door BBQ | Barbecue | $$ | 5 min walk |
| Grandma's Pizza & Pasta | Italian | $ | 11 min walk |
| Tim Hortons | Cafe | $ | 13 min walk |
| Josie's Pizza | Pizza | $ | 13 min walk |
| Tommy's Diner | Diner | $ | 14 min walk |
| Sbarro | Italian | - | 17 min walk |
| Tim Hortons | Cafe | $ | 17 min walk |
Retail |
||
|---|---|---|
| Family Dollar | Dollar/Variety/Thrift | 9 min walk |
| Sunbelt Rentals | Rental Shop | 11 min walk |
| ALDI | Supermarket | 15 min walk |
| Dollar General | Dollar/Variety/Thrift | 15 min walk |
| PNC Bank | Bank | 16 min walk |
Hotels |
|
|---|---|
| DoubleTree by Hilton |
194 rooms
5 min drive
|
| Westin |
189 rooms
4 min drive
|
| Courtyard |
150 rooms
5 min drive
|
zoning
| Zoning Code | Hotel (The site is currently zoned M (Manufacturing District), where a 7 story, 78 room hotel development is a permitted use under Columbus City Code 3363.01) |
| Hotel (The site is currently zoned M (Manufacturing District), where a 7 story, 78 room hotel development is a permitted use under Columbus City Code 3363.01) |
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Rob Ellis - Pink Development and Construction LLC
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278 S Glenwood Ave - 278 S Glenwood
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