38-Room Super 8
For Sale
Contact for pricing
1704 E Perry Street, Port Clinton, OH 43452
Seasonal 38-room hotel with guest amenities, continental breakfast space, and parking tailored for boat trailers and oversized vehicles.
Property Size18,972 SF
Price / SF$71.16
Days on Market52
Property Features for 1704 E Perry Street
General Information
Standard status
Active
Size
18,972 SF
Property subtype
Hospitality
Building Details
Year Built
1985
Listing Agency:
CENTURY 21 HomeStar
Listed By:
Denise Monaghan · License #OH 2005009478
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 8 at 8:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 HomeStar
Investment Insights
Based on property information with market context.
This 38-room Super 8 by Wyndham offers a complete guest lodging operation, with a continental breakfast area and dining space, guest laundry facilities, a vending area with an ice machine, lobby seating, and a guest water station. In-room guest experience is supported by complimentary Wi-Fi and DIRECTV service. The property also includes ample parking with dedicated boat-charging outlets, positioned to accommodate fishing and boating clientele.
The hotel is located in the heart of Ohio’s Vacationland and the gateway to the Lake Erie Islands, directly across from Lake Erie. It provides convenient access to ferry services, marinas, charter fishing operations, restaurants, shopping, and major tourist attractions associated with Port Clinton and the Lake Erie region.
The property is well-suited for an investor or owner-operator seeking an established brand hospitality asset with defined operational timing. It is currently operating on a seasonal schedule of approximately five months annually, with the business already benefiting from an established Lake Erie tourism market and an existing hospitality corridor location.
The hotel is located in the heart of Ohio’s Vacationland and the gateway to the Lake Erie Islands, directly across from Lake Erie. It provides convenient access to ferry services, marinas, charter fishing operations, restaurants, shopping, and major tourist attractions associated with Port Clinton and the Lake Erie region.
The property is well-suited for an investor or owner-operator seeking an established brand hospitality asset with defined operational timing. It is currently operating on a seasonal schedule of approximately five months annually, with the business already benefiting from an established Lake Erie tourism market and an existing hospitality corridor location.
Key Highlights
- 38 guest rooms in a Super 8 by Wyndham hotel (Year built: 1985)
- Seasonal operation of approximately five months annually
- On‑site guest amenities include continental breakfast area, guest laundry, lobby seating, and guest water station
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$115,440
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,308,800
$2.3M
Cap Rate 7%
$1,649,143
$1.6M
Cap Rate 9%
$1,282,667
$1.3M
Market Conditions
NOI Build-Up for 18,972 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$284.6K $15.00/SF
− Vacancy
−$41.5K −$2.19/SF
EGI
$243.0K $12.81/SF
− OpEx
−$127.6K −$6.73/SF
NOI
$115.4K $6.08/SF
Area
Ottawa County, OH
Vacancy
14.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,308,800
Cap Rate 7%
$1,649,143
Cap Rate 9%
$1,282,667
Alternative Uses
Best Use
Hotel Hospitality
$1.65M
$1.44M – $1.92M
NOI $115,440 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$6.76M
$5.92M – $7.89M
NOI $473,282 @ 7.0% cap · market cap 35.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 43452, OH
13,443
Population
10,859
Households
1.2
Avg Household Size
52
Median Age
28%
College-Educated
93%
High-School Grad
46.2 sq mi
ZIP Area
291
Density / Sq Mi
$63,815
Median Household Income
$43,782
Median Earnings
$937
Median Rent
$206,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Seasonal 38-room hotel with guest amenities, continental breakfast space, and parking tailored for boat trailers and oversized vehicles.
Where is this hotel located?
The property is located at 1704 E Perry Street Port Clinton, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 38 guest rooms in a Super 8 by Wyndham hotel (Year built: 1985); Seasonal operation of approximately five months annually; On‑site guest amenities include continental breakfast area, guest laundry, lobby seating, and guest water station
