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Hotel-Motel

Holiday Inn Express & Suites Columbus Airport/Gahanna

460 Waterbury Ct, Gahanna, OH 43230

Listing Price: $9,350,000

Cap Rate
10.00%
Number of Rooms
93
RevPAR
$81
Gross SF
72,010
Price/Room
$100,538
Price/Gross SF
$129.84
Year Built
2001

Investment Overview

Marcus & Millichap is proud to present the exclusive opportunity to acquire the Holiday Inn Express & Suites Columbus Airport in Gahanna, Ohio. The hotel is being offered fee simple and priced below replacement cost at $9,350,000 or $100,500 per key. The Holiday Inn Express & Suites Gahanna is currently owned by the Original Developer residing in California and has just recently completed a $2 Million+ Formula Blue Renovation of the hotel in 2023 offering investors a turnkey platform to bring back revenues back to Pre-Covid of $2,780,834. The Four Story Hotel, block and Plank construction built in 2001 will receive a Long Term Relicense from IHG Upon Transfer with Minimal PIP upon transfer. Located just minutes from Columbus John Glenn International Airport and 20 minutes from Downtown Columbus and the Intel Factory site, the hotel is well positioned to benefit from over $22 Billion in direct investment in the area with the Airport expansion beginning in 2025. The Holiday Inn Express & Suites Gahanna before Covid had room revenues of over $2.7 Million ($81.47RexPAR) and Post covid right before renovation began in January 2023 had Room revenues exceeding $2.3 million ($69.27 RevPAR) and a RevPAR penetration of 120 percent. The Hotel is recovering rapidly from its PIP Renovation disruption in 2023 and is experiencing strong occupancy rebound and on track to surpass 2022 RevPAR. The Holiday Inn Express & Suites Gahanna offers hands-on investors an attractive long-term asset in a high barrier to entry market into one of the fastest growing cities in the country with numerous multibillion projects which will reshape the economy and City of Columbus.

Investment Highlights

  • Original Absentee Developer
  • Minimal PIP $2 Million+ Reno 2023
  • Four Story Block and Plank Construction
  • $2 Billion Airport Expansion Begins 2025

Exclusively Listed By

Hotel-Motel

Holiday Inn Express & Suites Columbus Airport/Gahanna

Listing Price: $9,350,000

Cap Rate
10.00%
Number of Rooms
93
RevPAR
$81
Gross SF
72,010
Price/Room
$100,538
Price/Gross SF
$129.84
Year Built
2001

Investment Highlights

  • Original Absentee Developer
  • Minimal PIP $2 Million+ Reno 2023
  • Four Story Block and Plank Construction
  • $2 Billion Airport Expansion Begins 2025

Investment Overview

Marcus & Millichap is proud to present the exclusive opportunity to acquire the Holiday Inn Express & Suites Columbus Airport in Gahanna, Ohio. The hotel is being offered fee simple and priced below replacement cost at $9,350,000 or $100,500 per key. The Holiday Inn Express & Suites Gahanna is currently owned by the Original Developer residing in California and has just recently completed a $2 Million+ Formula Blue Renovation of the hotel in 2023 offering investors a turnkey platform to bring back revenues back to Pre-Covid of $2,780,834. The Four Story Hotel, block and Plank construction built in 2001 will receive a Long Term Relicense from IHG Upon Transfer with Minimal PIP upon transfer. Located just minutes from Columbus John Glenn International Airport and 20 minutes from Downtown Columbus and the Intel Factory site, the hotel is well positioned to benefit from over $22 Billion in direct investment in the area with the Airport expansion beginning in 2025. The Holiday Inn Express & Suites Gahanna before Covid had room revenues of over $2.7 Million ($81.47RexPAR) and Post covid right before renovation began in January 2023 had Room revenues exceeding $2.3 million ($69.27 RevPAR) and a RevPAR penetration of 120 percent. The Hotel is recovering rapidly from its PIP Renovation disruption in 2023 and is experiencing strong occupancy rebound and on track to surpass 2022 RevPAR. The Holiday Inn Express & Suites Gahanna offers hands-on investors an attractive long-term asset in a high barrier to entry market into one of the fastest growing cities in the country with numerous multibillion projects which will reshape the economy and City of Columbus.

Exclusively Listed By

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