1723 Perry StPort Clinton, OH 43452

Property Details for 1723 Perry St

Year built

1987

Lot size

1.03 AC

Property size (Sq ft)

25,476 SF

Property type

Motels

APN

021-00451-13936-000

APU

210045113936000

Description

This exceptional 54-unit hotel, situated on a 0.13-acre lot in Port Clinton, Ohio, presents a compelling investment opportunity. The 25,476 square-foot, two-story building, constructed in 1987 and renovated in 2004, boasts a Class C rating and is commercially zoned. Currently operating as a hotel, the property offers 54 keys, each valued at $51,833.33, resulting in an asking price of $2,799,000 ($109.87 per square foot). Its prime location in Port Clinton, a thriving area, ensures strong seasonal performance and significant potential for growth through targeted marketing and operational enhancements. The property's ample space and versatile commercial zoning allow for various hospitality and select-service uses. This well-maintained asset offers a strong return on investment for discerning buyers seeking a stable, high-demand property in a desirable tourist destination. The property's APN is 021-00451-13936-000. Further financial details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $5,205,672

  6.5%

  $4,805,236

  7%

  $4,462,005

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,600,109

  Geo Method

  $5,600,109

• Alternative Use

  Use

  Valuation

  Residential

  $5,245,922

  Hospitality

  $4,805,236

  Educational

  $3,997,900

  Medical

  $4,135,394

  Retail

  $6,218,956

Location Insight

City

Port Clinton

County

Ottawa

State

Ohio

Latitude

41.5152

Longitude

-82.9169

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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