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Motel Repurpose Opportunity in Wayne County 2137 Lincoln Way East, Wooster, OH 44691
Availability:
for sale
Property Type:
Multi-Family
Year Built:
1987
Building Size:
16,698 SF
Land Size:
1.79 Ac
Price:
$1,095,000
Price per SF:
$65.58
Sam Tecca
sam@gerspachergroup.com
(330) 722-5002
Tim Shalala
tim@gerspachergroup.com
(330) 722-5002
Property 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.
Area Description
Situated along East Lincoln Way, the property is located approximately 1.80 miles from Downtown Wooster. As one of the main corridors into Wooster, East Lincoln Way features a daily average traffic count of 18,000 vehicles. The property is situated less than 0.25 miles from Route 30, providing easy access to Akron/Canton via I-77. The College of Wooster (2 miles) and Ohio State University Agricultural Technical Institute (2.8 miles) provide a consistent draw for visitors and students alike. Wooster's main hospital system, Wooster Community Hospital, is also located just 3.2 miles away.
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
Full Address: 2137 Lincoln Way East, Wooster, OH 44691
Listing Type: FOR SALE
Status: Active
Region: M-EN
Property ID: 4102640
Amenities
Power: Yes
Building Sf: 16,698
Parcel Num: 56-02543.018
Number Units: 1
Year Built: 1987
Features