|By Tim Tresslar, Dayton Daily News,
OhioMcClatchy-Tribune Regional News
Feb. 26, 2008 - HARRISON TWP., Montgomery County -- Dayton Executive Hotel, a 253-room hotel on Needmore Road, will go up for auction in April, according to a news release.
Bidding on the hotel will start at $1.75 million at the April 17 auction, according to Sheldon Good & Co., a Chicago-based auctioneer.
The hotel, which once operated as a Best Western, sits at the intersection of Interstate 75 and Needmore Road, the press release states.
According to Montgomery County records, Dayton Lodge Ltd., based in Southfield, Mich., bought the hotel in 1997 for $1.7 million. The hotel, which remains in operation, includes about 59,000 square feet of space, property records state.
"This property presents the buyer with tremendous upside potential, whether they choose to purchase the property as a value-added investment or redevelop the site for an alternative use," said Alan Kravets, president of Sheldon Good.
The auction company will provide tours for potential bidders March 11, 18, and 25 as well as April 1. Call (800) 315-2199 for an appointment.
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