24-Unit Hotel with
New
For Sale
$1,431,000
2039 E Harbor Road, Port Clinton, OH 43452
Hospitality campus combines guest accommodations with restaurant and commercial kitchen facilities.
Property Size13,762 SF
Lot Size0.72 Acres
Price / SF$103.98
Days on Market4
Property Features for 2039 E Harbor Road
General Information
Standard status
Active
Size
13,762 SF
Total Parking Spaces
32
Lot size
0.72 Acres
Property subtype
Hotel/Motel
Restaurant
Equipment Included
No
Liquor License
No
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$12,453
Building Details
Building Size
13,762 SF
Year Built
1994
Buildings
2
Listing Agency:
Realty Professionals, Inc.
(216) 912-2196
Listed By:
Vincent Liuzzi · License #2022002940
(216) 912-2196
Source:
Asacoxhomes
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 6:20AM
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 Realty Professionals, Inc.
Investment Insights
Based on property information with market context.
The property at 2039 E Harbor Road includes two complementary commercial buildings across two contiguous commercial parcels. Improvements total approximately 13,762 SF on approximately 0.72 acres and include a 24-unit lodging operation, brewpub and restaurant space, commercial kitchen facilities, utilities, and related site improvements. The site also provides 32 parking spaces, supporting both overnight guests and restaurant activity.
Situated in Port Clinton within an active Lake Erie waterfront community, the property is near marinas, boat docks, fishing destinations, recreational attractions, and marine-related businesses. The combined offering brings lodging and food service together in one hospitality-oriented setting. Both parcels are conveyed together and are not offered separately. The real estate is offered through MLS; business assets and operating components may be available separately through the listing broker.
Situated in Port Clinton within an active Lake Erie waterfront community, the property is near marinas, boat docks, fishing destinations, recreational attractions, and marine-related businesses. The combined offering brings lodging and food service together in one hospitality-oriented setting. Both parcels are conveyed together and are not offered separately. The real estate is offered through MLS; business assets and operating components may be available separately through the listing broker.
Key Highlights
- 24 lodging units with integrated brewpub and restaurant
- Approximately 13,762 SF of improvements
- Approximately 0.72 acres across two contiguous commercial parcels
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
249
Businesses Nearby
64k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Shops & Services 32%
Dining 21%
Hotels & Casinos 8%
Kroger
Groceries
22,105 visits/mo
0.4 miles
McDonald's
Dining
11,988 visits/mo
0.4 miles
Dollar Tree
Shops & Services
8,075 visits/mo
0.3 miles
Kroger Fuel Center
Shops & Services
6,969 visits/mo
0.5 miles
Quality Inn
Hotels & Casinos
2,990 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 campus combines guest accommodations with restaurant and commercial kitchen facilities.
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 lodging units with integrated brewpub and restaurant; Approximately 13,762 SF of improvements; Approximately 0.72 acres across two contiguous commercial parcels
