38-Room Branded
New
For Sale
$1,350,000
1704 E Perry St, Port Clinton, OH 43452
Guest amenities include breakfast space, laundry facilities, vending, Wi-Fi, and DIRECTV service.
Property Size18,972 SF
Price / SF$71.16
Days on Market2
Property Features for 1704 E Perry St
General Information
Standard status
Active
Size
18,972 SF
Additional Details
Business Included
Yes
Amenities
continental breakfast area
dining space
guest laundry facilities
vending area with ice machine
comfortable lobby seating
guest water station
complimentary Wi-Fi
DIRECTV service
boat-charging outlets
Building Details
Year Built
1985
Listing Agency:
Century 21 Homestar
Listed By:
Denise D Monaghan · License #2005009478
(419) 573-9802
Source:
Theacclaimedrealty
Added: Sep 14
Last Checked: Sep 14 at 2:32PM
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 hotel encompasses 18,972 square feet and was built in 1985. Guest facilities include a continental breakfast area with dining space, lobby seating, guest laundry, vending with an ice machine, a water station, complimentary Wi-Fi, and DIRECTV service. Parking accommodates boat trailers and oversized vehicles, with dedicated boat-charging outlets for boating and fishing guests.
Located at 1704 E Perry St in Port Clinton, the property sits directly across from Lake Erie and provides access to ferry services, marinas, charter fishing, restaurants, shopping, and regional attractions. Nearby destinations identified with the property include Put-in-Bay, Kelleys Island, Cedar Point, East Harbor State Park, Marblehead Lighthouse, Magee Marsh, and Ottawa National Wildlife Refuge.
The hotel operates seasonally for approximately five months annually and is affiliated with the Super 8 by Wyndham brand.
Located at 1704 E Perry St in Port Clinton, the property sits directly across from Lake Erie and provides access to ferry services, marinas, charter fishing, restaurants, shopping, and regional attractions. Nearby destinations identified with the property include Put-in-Bay, Kelleys Island, Cedar Point, East Harbor State Park, Marblehead Lighthouse, Magee Marsh, and Ottawa National Wildlife Refuge.
The hotel operates seasonally for approximately five months annually and is affiliated with the Super 8 by Wyndham brand.
Key Highlights
- 38 guest rooms within 18,972 square feet
- Built in 1985
- Directly across from Lake Erie at 1704 E Perry St, Port Clinton, OH 43452
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - Guest amenities include breakfast space, laundry facilities, vending, Wi-Fi, and DIRECTV service.
Where is this hotel located?
The property is located at 1704 E Perry St 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 within 18,972 square feet; Built in 1985; Directly across from Lake Erie at 1704 E Perry St, Port Clinton, OH 43452
