445 Alexis Rd Toledo, OH 43612-3708

Property Details for 445 Alexis Rd

Year built

1987

Lot size

2.00 lot acres

Property size

36,226 SF

Zone code

10-CRSO

Property type

Hotels

APN

22-43451

APU

2243451

Description

This exceptional 80-key hotel in Toledo, Ohio presents a compelling investment opportunity. Boasting 86,684 square feet on a 1.99-acre lot, this two-story property underwent a complete renovation between 2021 and 2023. Built in 1987, the hotel enjoys a prime location near US Highway 24 and Interstate 75, providing easy access to major attractions like Toledo Speedway, Maumee Bay State Park, Cedar Point Amusement Park, the Toledo Zoo, and the University of Toledo. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $522,742, resulting in an attractive 11.88% capitalization rate. The hotel achieved a 39.2% NOI margin in 2023, demonstrating its operational efficiency. Toledo's hotel market exhibits stable growth, with a 2.9% year-over-year RevPAR increase. Furthermore, significant ongoing downtown development, including a $200 million renovation of the Nicholas and Spitzer buildings and the $180 million Toledo Trade Center project (projected to create over 1,000 jobs), promises to further boost demand and market activity in the coming years. The hotel offers amenities such as a complimentary breakfast, ensuring guest satisfaction. This is a rare chance to acquire a recently renovated, high-performing hotel in a growing market with significant future potential. The asking price is $4,400,000.

Location Insight

City

Toledo

County

Lucas

State

Ohio

Longitude

-83.5389

Latitude

41.7227

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments