Drawbridge Marina and Storage
For Sale
Contact for pricing
Pending
247 W Lakeshore Road, Port Clinton, OH 43452
Commercial property featuring marina, storage, and retail opportunities.
Property Size23,000 SF
Lot Size5.48 Acres
Days on Market766
Property Features for 247 W Lakeshore Road
General Information
Standard status
Pending
Size
23,000 SF
Lot size
5.48 Acres
Property subtype
Special Purpose
Listing Agency:
Century 21 Bolte Real Estate Port Clinton
Listed By:
Len Partin · License #OH
Source:
Crexi
Added: Sep 18, 2024
Changed: Oct 14
Last Checked: Oct 20 at 5:39PM
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 Bolte Real Estate Port Clinton
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property includes multiple sites. Site #1, Drawbridge Marina, features a main building over 23,000 square feet with 140 inside rack storage units, a retail area, offices, and a shop area. A second steel-sided, two-story building (36'x68') serves as a canvas shop. The site spans 5.46 paved and stoned acres with over 400 feet of river frontage, two boat lift wells, one hoist well, and six fuel service pumps with 15,000 gallons of storage. It also includes a beer and wine carry-out State Liquor License C-2 & C-2x transfer. There are 20 exterior boat racks and 10 in-water slips, along with approximately 140 feet of boat staging sea wall. Site #2, Lakeshore Mini Storage, provides easy access to two buildings. One building contains 15 individual rental storage units plus a 60' x 64' x 22' area, while the second building offers 28 individual rental units. This site covers 0.78 acres and has public water and sewer service available. Site #3, Three Mile Crossing, consists of two tax parcels with 3.61 acres and six buildings in a secure setting.
Key Highlights
- Main building with over 23,000 sq ft including 140 inside rack storage, retail, offices, and shop area.
- Over 400 feet of river frontage on 5.46 paved and stoned acres.
- Includes a beer and wine carry out State Liquor License C‑2 & C‑2x transfer.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$196,581
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,931,620
$3.9M
Cap Rate 7%
$2,808,300
$2.8M
Cap Rate 9%
$2,184,233
$2.2M
Market Conditions
NOI Build-Up for 23,000 SF
Gross rent
$303.6K $13.20/SF
− Vacancy
−$22.8K −$0.99/SF
EGI
$280.8K $12.21/SF
− OpEx
−$84.2K −$3.66/SF
NOI
$196.6K $8.55/SF
Area
Ottawa County, OH
Vacancy
7.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,931,620
Cap Rate 7%
$2,808,300
Cap Rate 9%
$2,184,233
Alternative Uses
Best Use
Retail
$8.20M
$7.17M – $9.56M
NOI $573,765 @ 7.0% cap · market cap 19.62%
Second Best
Self Storage
$2.81M
$2.46M – $3.28M
NOI $196,581 @ 7.0% cap · market cap 6.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
425
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
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Marina - Commercial property featuring marina, storage, and retail opportunities.
Where is this marina located?
The property is located at 247 W Lakeshore Road Port Clinton, OH.
What is the asking price?
The asking price for this property is $2,925,000.
What are key features of this property?
This property features: Main building with over 23,000 sq ft including 140 inside rack storage, retail, offices, and shop area.; Over 400 feet of river frontage on 5.46 paved and stoned acres.; Includes a beer and wine carry out State Liquor License C‑2 & C‑2x transfer.
