Listed by NAI Ohio Equities, LLC
$2,750,000
Red Roof Inn
Details
APN 010-294269-00, 010-294268
Property Type Hospitality
Sub Type Hotel, Full Service
Square Footage 34,848
Price per SqFt $79
Year Built 1984
Year Renovated 2014
Buildings 1
Stories 3
Acreage 2.830
Zoning CAC
Ground Lease Yes
High-Profile Hotel Ground Lease For Sale
Marketing description
This high-profile hotel ground lease offers a strong long-term investment with a base term running through 2049 and five-year extension options available through 2079. The Red Roof property is currently undergoing a $3 million renovation and includes 113 total rooms situated on 2.81 acres. The lease features 10% rental increases every five years and benefits from its close proximity to The Ohio State University.
Investment highlights
High-Profile Hotel Ground Lease For Sale
$3M Renovation by Red Roof Underway
Base Term Through 2049
10% Rental Increases Every 5 Years
5-Year Options Through 2079
Absolute Net, No Landlord Responsibilities
113 Total Rooms
Situated on 2.81 Acres
Close Proximity to The Ohio State University
1% to Cooperating Broker
Listing Contacts
Listed by NAI Ohio Equities, LLC
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