Hotel With Brewpub and
For Sale
$1,431,000
2039 E Harbor Road, Port Clinton, OH 43452
CommercialSale, Port Clinton, OH
Property Size13,762 SF
Lot Size0.72 Acres
Price / SF$103.98
Days on Market142
Property Features for 2039 E Harbor Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
32
Parking features
Guest, Parking Lot
Patio and Porch features
Patio
Elementary school district
Port Clinton CSD - 6206
Middle school district
Port Clinton CSD - 6206
High school district
Port Clinton CSD - 6206
Directions
From SR 53, travel east on E Harbor Road toward Catawba Island. Property is located on the north side of E Harbor Road near the intersection of E Harbor Road and Sand Road. Includes both 2039 E Harbor Rd and 2044 E Sand Rd.
Standard status
Active
APN
0200748609882000
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Includes PPN 0200748609882000 (Lot 1 Tillotson B) and PPN 0200748609883000 (Lot 2 Ex E 5 Ft Tillotson B).
Tax Annual Amount
12453
Legal Description
Includes PPN 0200748609882000 (Lot 1 Tillotson B) and PPN 0200748609883000 (Lot 2 Ex E 5 Ft Tillotson B).
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Multi Units
Water source
Public
Building Details
Year built
1994
Number of units
24
Roof type
Membrane
Listing Agency:
Realty Professionals, Inc.
(440) 835-0272
Listed By:
Vincent Liuzzi · License #2022002940
(216) 912-2196
Added: Apr 2
Changed: Aug 20
Last Checked: Aug 21 at 3:06PM
MLS# 5235212
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This hospitality property combines a 24-unit lodging operation with a brewpub and restaurant across two contiguous commercial parcels. The improvements total approximately 13,762 SF and include guest accommodations, commercial kitchen facilities, two complementary buildings, a patio, and 32 parking spaces. Constructed in 1994, the property has forced-air heating, central air, public water, and public sewer.
The setting is an active Lake Erie waterfront community near marinas, boat docks, fishing destinations, recreational attractions, and marine-related businesses. The property is positioned to support lodging and food-service operations serving visitors and local patrons. The parcels are offered together and are not being conveyed separately. The real estate offering excludes the operating businesses and related business assets unless separately arranged through the listing broker.
The setting is an active Lake Erie waterfront community near marinas, boat docks, fishing destinations, recreational attractions, and marine-related businesses. The property is positioned to support lodging and food-service operations serving visitors and local patrons. The parcels are offered together and are not being conveyed separately. The real estate offering excludes the operating businesses and related business assets unless separately arranged through the listing broker.
Key Highlights
- 24‑unit lodging property paired with a brewpub and restaurant
- Approximately 13,762 SF of improvements on 0.7195 acres
- 32 parking spaces with guest parking lot
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
$83,738
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
5.85%
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%
$1,674,760
$1.7M
Cap Rate 7%
$1,196,257
$1.2M
Cap Rate 9%
$930,422
$930.4K
Market Conditions
NOI Build-Up for 13,762 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
$206.4K $15.00/SF
− Vacancy
−$30.1K −$2.19/SF
EGI
$176.3K $12.81/SF
− OpEx
−$92.6K −$6.73/SF
NOI
$83.7K $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%
$1,674,760
Cap Rate 7%
$1,196,257
Cap Rate 9%
$930,422
Alternative Uses
Best Use
Specialty Retail
$2.69M
$2.35M – $3.14M
NOI $188,259 @ 7.0% cap · market cap 13.16%
Second Best
Hotel Hospitality
$1.20M
$1.05M – $1.40M
NOI $83,738 @ 7.0% cap · market cap 5.85%
Theoretical Best
Retail
$4.90M
$4.29M – $5.72M
NOI $343,311 @ 7.0% cap · market cap 23.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
34k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 65%
Shops & Services 27%
Beauty & Spa 8%
Kroger
Groceries
22,105 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
6,969 visits/mo
0.1 miles
Supercuts
Beauty & Spa
2,666 visits/mo
0.2 miles
Advance Auto Parts
Shops & Services
1,419 visits/mo
0.1 miles
Valley Ford Lakeside
Shops & Services
771 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Hospitality property combining guest accommodations, dining facilities, and a patio in an active waterfront community.
Where is this hotel located?
The property is located at 2039 E Harbor Road Port Clinton, OH.
What is the asking price?
The asking price for this property is $1,431,000.
What are key features of this property?
This property features: 24‑unit lodging property paired with a brewpub and restaurant; Approximately 13,762 SF of improvements on 0.7195 acres; 32 parking spaces with guest parking lot
