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Red Roof Inn Akron 2939 S Arlington Rd 121 Room Hotel Akron, OH 44312 $2,950,000 ($24,380/Room)
Executive Summary
This prime investment opportunity is now open for offers. Located at a major exit (Exit 120, Arlington Rd.) in Akron, Ohio, this 121-room Red Roof Inn sits on 4.51 acres adjacent to Walmart and major shopping centers. The property is currently closed following the resolution of all previous legal issues and is ready for new ownership.
Key property highlights include:
- Performance: Average annual income over the last three years exceeds $1.2 to 1.6 million.
- Condition: Recently updated with minimal Property Improvement Plan (PIP) requirements.
- Location: High-traffic area near fuel, dining, lodging, and entertainment.
Call for Offers | Deadline: March 15th
Please ensure your proposal includes the following details:
- Proposed purchase price.
- Deal timing (Due Diligence and Closing periods).
- Earnest Money deposit amount and the timeline for becoming non-refundable.
- Assumptions regarding the cost and timing of the Change of Ownership PIP.
- Documentation regarding your source of equity and financing plan.
Please attach any additional supporting materials to your bid and send proposals directly to joe.manuel@myrealtyselect.com.
Key property highlights include:
- Performance: Average annual income over the last three years exceeds $1.2 to 1.6 million.
- Condition: Recently updated with minimal Property Improvement Plan (PIP) requirements.
- Location: High-traffic area near fuel, dining, lodging, and entertainment.
Call for Offers | Deadline: March 15th
Please ensure your proposal includes the following details:
- Proposed purchase price.
- Deal timing (Due Diligence and Closing periods).
- Earnest Money deposit amount and the timeline for becoming non-refundable.
- Assumptions regarding the cost and timing of the Change of Ownership PIP.
- Documentation regarding your source of equity and financing plan.
Please attach any additional supporting materials to your bid and send proposals directly to joe.manuel@myrealtyselect.com.
Property Facts
| Price | $2,950,000 | Building Size | 50,579 SF |
| Price Per Room | $24,380 | No. Rooms | 121 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1989/2020 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 1.23/1,000 SF |
| Lot Size | 4.51 AC | Corridor | Exterior |
| Zoning | N/Av, Springfield | ||
| Price | $2,950,000 |
| Price Per Room | $24,380 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.51 AC |
| Building Size | 50,579 SF |
| No. Rooms | 121 |
| No. Stories | 3 |
| Year Built/Renovated | 1989/2020 |
| Tenancy | Single |
| Parking Ratio | 1.23/1,000 SF |
| Corridor | Exterior |
| Zoning | N/Av, Springfield |
Amenities
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 121 | $65.00 | - |
Property Taxes
| Parcel Number | 51-08892 | Improvements Assessment | $763,175 |
| Land Assessment | $218,575 | Total Assessment | $981,750 |
Property Taxes
Parcel Number
51-08892
Land Assessment
$218,575
Improvements Assessment
$763,175
Total Assessment
$981,750
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Red Roof Inn Akron | 2939 S Arlington Rd
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