1530 Cleveland Rd Sandusky, OH 44870
- Hotels
- 12,300 SF
- 0.68 lot acres
Current Use by Public Records
- Hotels
Property Details for 1530 Cleveland Rd
- Year built
- 1950
- Lot size
- 0.68 lot acres
- Property size
- 12,300 SF
- Property type
- Hotels
- APN
- 57-00766-000
- APU
- 5700766000
Description
This exceptional 103-unit hotel presents a lucrative investment opportunity in the thriving Lake Erie Shores & Islands region of Sandusky, Ohio. Boasting a prime location just five minutes from Cedar Point amusement park, Cedar Point Sports Center/Sports Force Parks, and downtown Sandusky, this property benefits from the area's robust $2.7 billion tourism industry and 13 million annual visitors. The hotel features a fully operational lobby, a complete restaurant with all equipment included, a one-bedroom house, and a county liquor permit (state license not included). Guest rooms are fully furnished and equipped with recently upgraded amenities such as new HVAC systems, apartment-style refrigerators, and electronic door locks. A swimming pool and courtyard enhance the guest experience, while on-site laundry facilities add convenience. The property also includes ample parking and expansion potential across its eleven parcels, encompassing approximately 3.7 acres. The diverse room types cater to a wide range of guests, including 1 two-bedroom king suites with kitchens, 5 king studios, 25 single king rooms, 65 double-double rooms, and 7 single-double rooms. A full-time maintenance staff has ensured the property's upkeep, and it has been utilized for employee housing. A detailed inventory of included items is available upon request. This turnkey operation is ready for a new owner to capitalize on the region's consistent tourism revenue.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,415,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,925,000
- 6.5%
- $1,785,000
- 7%
- $1,765,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,620,000
- Geo Method
- $2,100,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,810,000
- Retail
- $1,470,000
- Mixed-Use
- $1,585,000
- Hospitality
- $1,840,000
- Educational
- $2,000,000
- Residential Income
- $1,980,000
- Energy
- $1,470,000
- Income-Based Land
- $1,720,000
- Food Service
- $1,885,000
Location Insight
- Map
- Local Demand
- City
- Sandusky
- County
- Erie
- State
- Ohio
- Longitude
- -82.6883
- Latitude
- 41.4426
- CBSA code
- 41780
- CBSA name
- SANDUSKY, OH METROPOLITAN STATISTICAL AREA
