Super 8 Millbury Toledo
ASKING PRICE HOTEL EXCESS AND LAND $3,100,000
Room Multiplier 2.88x
Prime and highly visible ± 21.47-acre location off Interstate 280, within minutes Interstate 280. The location is in a major regional transportation hub ideal for budget hotels such as the Super 8.
The Property will be delivered free and clear of management. The Property runs with a corporate expense structure, and a new hands-on management will benefit from numerous expense reductions in labor, repair, maintenance, general and administrative expenses.
The Property has had staff turnover and on-site management issues that have impacted revenue. The owner is not local to the Toledo area. This provides an opportunity for an owner/operator to improve revenue and operational performance.
The Property has over 19 acres of developable land. The land is zoned for B-3 Highway Business, which allows for numerous opportunities for commercial and retail development.
The adjoining restaurant and lounge is currently vacant. The building is approximately 12,000 square feet.