Current Use by Public Records
- Hospitality properties
Property Details for 1601 State Route 4
- Year built
- 1940
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional investment opportunity presents a 12-room hotel and event venue located at 1601 State Route 4, Bucyrus, Ohio, 44820. The property, built in 1940 and renovated in 1990, boasts 15,980 square feet situated on an expansive 8.61-acre lot (375,051.6 sq ft) surrounded by 400 acres of farmland. The hotel features a commercial kitchen and an award-winning wine cellar, adding to its unique appeal. With 12 keys, the property offers significant revenue potential. The asking price is $1,250,000, representing a price per square foot of $78.22 and a compelling 10.33% cap rate, with a Net Operating Income (NOI) of $129,183. This charming establishment provides a tranquil setting ideal for romantic getaways and special events, benefiting from its serene location and meticulously landscaped grounds. The property's versatility as both a hotel and event venue makes it an attractive investment for those seeking a profitable and unique business venture. The property is conveniently located just north of Marion, Ohio. Further details on included amenities are available upon request.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bucyrus
- County
- Crawford
- State
- Ohio
- Longitude
- -83.0132
- Latitude
- 40.7606
