Listed by Gerspacher Real Estate Group
$1,095,000
2137 Lincoln Way E
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,698
Price per SqFt $66
Year Built 1987
Acreage 1.790
Motel Repurpose Opportunity in Wayne County
Marketing description
Gerspacher Real Estate Group is excited to announce this Multi-Family Redevelopment Opportunity located along East Lincoln Way in Wooster, Ohio. Formerly an expansion of Econo Lodge Wooster, the property includes 40-units each containing 1 bedroom and 1 bathroom. The units are approximately 275 SF and could be redeveloped into efficiency apartments by adding a small kitchenette within each unit. All 40 units contain their own mini-spilt systems which have been regularly serviced and maintained. On-site laundry facilities are also available along with a fitness center and heated indoor pool. The property itself has a parking capacity of ±70 vehicles.
Investment highlights
- Available: 16,698 SF | Acres: 1.795 AC
- Price per SF: $65.57/SF
- 40 Units Available: 1-Bedroom, 1-Bath with Shower Tub in Each Unit with their Own Mini-Split System
- 1 Apartment with Kitchen, Living Room, and Bedrooms that is Currently Rented
- On-Site Employee Laundry Facility, Fitness Center, and Heated Indoor Pool
- Utilities: Water - Well | Electric - American Electric Power (AEP) | Gas - Enbridge Gas | Sewer
- Future Buyer Cannot Operate the Property as a Motel Due to Restrictions
- Repurpose Ideas Include: Affordable/Workforce Housing, Transitional/Supportive Housing or Medical/Behavioral Health Facility
- Parking: ±30 Spaces – Can be Expanded
- Roof Replaced: 2017
- Year Built: 1987 and 1988
- 2025 Annual Real Estate Taxes: $12,256.86
Listing Contacts
Listed by Gerspacher Real Estate Group
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