2905 Milan Rd, Sandusky, OH 44870-5608
- Motels
- 8,516 SF
- 1.60 lot acres
Current Use by Public Records
- Wolf Inn Hotel / Hotel & Motel
Property Details for 2905 Milan Rd
- Year built
- 1960
- Lot size
- 1.60 lot acres
- Property type
- Motels
- APN
- 50-00269-001
- APU
- 5000269001
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 17, 2022 | $620,000 | Wolf Inn LLC | Robert Schoen | Quit Claim Deed · related | $470k · Robert Sehen Etal |
Description
This 36,600 square foot, 112-key hotel in Sandusky, Ohio, presents a compelling investment opportunity. Built in 1960, the two-story property features both interior and exterior corridors. Its convenient location, just 10 minutes from Cedar Point amusement park, provides access to a large tourist base drawn to the "Roller Coaster Capital of the World." Sandusky offers diverse attractions beyond Cedar Point, including Lake Erie's waterfront, boating, fishing, and beaches, further enhancing the hotel's appeal to a broad range of visitors. The property boasts strong historical revenue generation, with room revenue totaling $1,509,427.55 in 2021, $1,674,442 in 2022, and $1,361,991.74 in 2023. Additional income of $67,200 was generated from leased restaurant spaces. The asking price is $4,000,000, translating to $109.29 per square foot and $35,714 per key. This presents significant branding opportunities within a thriving tourism market. The property's strong historical performance and strategic location make it an attractive investment for those seeking a foothold in the hospitality sector of a dynamic lakeside community.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $960,000
- 6.5%
- $885,000
- 7%
- $825,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $821,000
Market price range: $821k - $3.14M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sandusky
- County
- Erie
- State
- Ohio
- Longitude
- -82.6149
- Latitude
- 41.3198
- CBSA code
- 41780
- CBSA name
- SANDUSKY, OH METROPOLITAN STATISTICAL AREA
