1575 Sandusky Ave Bucyrus, OH 44820-1333
- Commercial land
- 0.71 lot acres
Current Use by Public Records
- Holiday Inn Express & Suites Bucyrus, an IHG Hotel / Hotel / Conference Center
Property Details for 1575 Sandusky Ave
- Lot size
- 0.71 lot acres
- Property type
- Commercial land
- APN
- 09-0003928.000
- APU
- 90003928000
Description
This exceptional investment opportunity presents a 62-key Holiday Inn Express & Suites hotel located at 1575 N Sandusky Ave, Bucyrus, OH 44820. Priced at $6,800,000, this fee-simple property boasts a strong 8.52% cap rate and a healthy net operating income (NOI) of $579,121. The hotel, built in 2000 and renovated in 2021, sits on a 1.872-acre lot and features 20,000 square feet of space across three stories. Amenities include an elevator, fitness center, indoor pool, and meeting room. The property includes 70 parking spaces. The unit breakdown consists of 33 non-smoking rooms, 22 suites, and 7 accessible rooms. Individual PTAC units provide heating and cooling. The building is constructed of wood frame with a pitched, shingled roof. The hotel's current occupancy rate stands at 68.8% as of February 29, 2024, generating a room revenue of $1,840,540. The average daily rate (ADR) is $117.88, and the revenue per available room (RevPAR) is $81.11. This profitable hotel offers significant upside potential for an owner/user. The property is zoned commercial and has a Crawford County APN of 09-0003928.006. This is a turnkey operation with a proven track record of success.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bucyrus
- County
- Crawford
- State
- Ohio
- Longitude
- -82.9754
- Latitude
- 40.8249
- CBSA code
- 15340
- CBSA name
- BUCYRUS, OH MICROPOLITAN STATISTICAL AREA
