5225 Old Lake RdGeneva, OH 44041

Property Details for 5225 Old Lake Rd

Year built

1960

Construction

WOOD

Lot size

0.28 AC

Property size (Sq ft)

5,343 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

21-030-00-001-00

APU

210300000100

Description

Prime Geneva-on-the-Lake location, this 17-key motel boasts stunning Lake Erie views from most rooms. Completely renovated in 2022, this two-story, 6,500-8,200 square foot brick structure offers a turnkey operation. The property includes a private beach area and a separate three-bedroom, two-bathroom Airbnb unit with open-concept living and a modern kitchen. A lower-level owner/janitorial suite provides convenient access from the lobby. Situated on a 0.28-acre lot, this established business benefits from its location in a seasonal resort area. The property's Commercial zoning allows for flexibility. Built in 1960, this meticulously maintained motel presents a rare investment opportunity. An additional 17-key motel with a private pool is available for purchase, expanding the potential to 34 keys, along with an owner's suite and additional beach access. The property's APN is 210300000100. Asking price is $1,999,900.

• CAP approach

  CAP return

  Valuation

  6%

  $1,091,769

  6.5%

  $1,007,787

  7%

  $935,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,174,493

  Geo Method

  $1,174,493

• Alternative Use

  Use

  Valuation

  Residential

  $1,100,210

  Hospitality

  $1,007,787

  Educational

  $838,467

  Medical

  $867,303

  Retail

  $1,304,282

Location Insight

City

Geneva

County

Ashtabula

State

Ohio

Latitude

41.8618

Longitude

-80.9436

CBSA code

11780

CBSA name

ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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