More Information
2 parcels for auction:
Parcel 1: Franklin Co. Parcel # 190-002752. Known as the Shady Lane motel this property has had a long and steady history. Built in 1929 and remodeled in 1987 this 23 unit 3,042 SF motel is tax appraised at $310,000 and has 5.232 acres. Zoned Commercial for motel. Annual taxes are $11,933. Annual gross income has been in the $120,000-$200,000 range. Besides the motel there is a residential home on the rear of the property that would be great for the manager or as additional income producing property. (currently one of the owners lives there)
Parcel 2: Franklin Co. Parcel # 010-146802. Beautiful 7.136 acres heavily wooded with a stream and walking trails. Tax appraised for $67,000. Annual taxes are $1,433. 16 different neighboring properties back up to this parcel.
The motel is directly across the street from Champions Golf Club and Champions Tennis Club. Easton shopping ares is directly East of this property. Currently this is a cash only motel. The house on the back of the property looks like it could rent for about $600-$900 per month. You also have the ability to rent one of the two owner's suites out on a long term basis. This motel is perfect for a family run business. As you can tell from the photos all of the rooms are clean and well kept. Many repeat customers. This is a great income producing property with potential to increase the bottom line by renting the 2 extra residential units.
Lot Size: 5.232 acres for the tract with the motel. 7.136 Acres for the wooded lot to the North. Total of $12.368 Acres.
Annual Taxes: $ 11,961 plus 1,433
Property Map
LEAD AUCTIONEER
Barry Baker
DIRECTIONS:
I-270 to West on Morse Rd to Left on Westerville Rd. which is OH-3. Property will be on your right. Close proximity to Easton.
Basic Terms:
We will offer the properties separately and together and they will sell in the manner that has the highest selling price. Sells Regardless of Price to the Highest bidder with no minimums or reserves. In order to bid you must bring a cashier's check made payable to "Talon Title" in the amount of $40,000 if you wish to bid on the motel parcel. You will need to bring a $5,000 cashier's check if you wish to bid on the wooded lot which will become your non refundable deposit if you are the high bidder. The real estate is sold As Is with no contingencies. All inspections must be done prior to Auction. Close within 30 days. A 10% buyer's premium will be added to the high bid to obtain the final contract selling price. Short tax proration. Buyer pays all closing costs. General warranty deed given at closing with no liens or back taxes. Seller has the right to occupy the house on the back of the property for up to 60 days after closing.
Deposit and Closing:
To be within 30 days. Closing will take place with Talon Title. 614-864-7100
Realtor Participation:
Realtor showings and cooperation are encouraged. For full compensation instructions, see Realtor Registration form attachment. Please call Auctioneer to schedule all showings.