Liberty Hotel Sells for $2.4M

LIBERTY TOWNSHIP, Ohio – The Days Inn & Suites at 1615 Liberty St. in Liberty Township  – the largest commercial real estate transaction last month in the three-county region – represents an outstanding investment property, according to the commercial real estate investment firm that brokered the deal. 

Marcus & Millichap Inc., a publicly traded firm based in California, listed the property in December 2017.

The hotel was purchased by KKO Hospitality LLC from Shir-Sath Inc. Neither entity is incorporated in Ohio.

M&M stated in its property listing that the hotel was operating at “42.94% margins, which is a net operating income $391,225. [It] generates roughly $780,000 in room revenues, 60% occupancy with an average daily room rate of $59.

The seller owned the hotel for more than 25 years and has moved outside of the area. The 25,000-square-foot building has 54 guest rooms.

Pictured: The hotel, formerly Econo Lodge, was converted to Days Inn & Suites in 2007.