Waterfront Property with Development
4245 W Lakeshore Dr Port Clinton, OH 43452
For Sale
$1,500,000
Unique mixed-use property with lodging, restaurant, and waterfront access.
Property Size3,791 SF
Lot Size14.65 Acres
Price / SF$395.67
Days on Market276
Property Features for 4245 W Lakeshore Dr
General Information
Standard status
Active
Size
3,791 SF
Lot size
14.65 Acres
Listing Agency:
Gentile Real Estate, LLC
(440) 221-7757
Listed By:
Robert Lenthe
Source:
Exprealty
Added: Oct 27, 2025
Changed: Jul 10
Last Checked: Jul 26 at 5:54PM
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 Gentile Real Estate, LLC
Investment Insights
Based on property information with market context.
This unique property on SR-2 in Port Clinton offers a combination of lodging, residential, commercial, and land-use opportunities. The motel features 10 guest rooms that have been fully gutted and remodeled and are currently operational. An on-site residence has also been fully gutted and remodeled, suitable for owner occupancy or management living quarters. A former restaurant structure presents the potential for reopening or conversion. A 52x80 heated metal building is ideal for a workshop, storage, or auxiliary business. The property includes waterfront access to a deep water creek/canal leading to Lake Erie, a rare amenity for lodging or recreation-oriented businesses. The 14.65-acre parcel provides ample room for expansion of the existing business or special-use development. A private sewer plant system services the entire property, and a dike system surrounds three sides of the parcel. The property benefits from high-visibility frontage on State Route 2, with easy access and significant drive-by traffic. The property has mixed-use flexibility, allowing for operation of lodging, revival of the restaurant, and use of the land for recreation development. The waterfront appeal and acreage offer possibilities for water-based activities, outdoor events, recreation, or hospitality-oriented uses. There is no zoning in Erie Township.
Key Highlights
- Direct canal access to Lake Erie: A rare waterfront amenity ideal for lodging, recreation, or water‑based business.
- 14.65 acres with no zoning in Erie Township: Ample room for expansion and flexible business concepts (subject to permitting).
- Operational 10‑room motel: Fully gutted/remodeled and ready for immediate income generation.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.9k | $18.96 |
| − Vacancy | −$2.7k | −$0.72 |
| EGI | $69.1k | $18.24 |
| − OpEx | −$17.3k | −$4.56 |
| NOI | $51.9k | $13.68 |
3,791 SF · lease $18.96/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$740.9K
$648.3K – $864.3K
NOI $51,860 @ 7.0% cap · market cap 3.46%
Second Best
Hotel Hospitality
$329.5K
$288.3K – $384.5K
NOI $23,067 @ 7.0% cap · market cap 1.54%
Theoretical Best
Retail
$1.35M
$1.18M – $1.58M
NOI $94,571 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Motel - Unique mixed-use property with lodging, restaurant, and waterfront access.
Where is this motel located?
The property is located at 4245 W Lakeshore Dr Port Clinton, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Direct canal access to Lake Erie: A rare waterfront amenity ideal for lodging, recreation, or water‑based business.; 14.65 acres with no zoning in Erie Township: Ample room for expansion and flexible business concepts (subject to permitting).; Operational 10‑room motel: Fully gutted/remodeled and ready for immediate income generation.
