3537 Liberty AveVermilion, OH 44089

Property Details for 3537 Liberty Ave

Year built

1950

Construction

WOOD FRAME

Lot size

0.56 AC

Property size (Sq ft)

940 SF

Property type

Hospitality properties

Property subtype

Motels

APN

01-00-003-129-001

APU

100003129001

Description

This exceptional Vermilion, OH investment opportunity presents a 17-unit motel generating immediate cash flow. Conveniently located near downtown and Lake Erie, the property also includes a 2-bedroom house, ideal for additional rental income or on-site management. Guest and tenant convenience is maximized with an on-site coin-operated laundry. A substantial 1200 sq ft, two-story pole barn offers ample storage or further rental potential. Adding to the property's versatility is a large 180 x 70 vacant lot at the rear, presenting significant expansion or development possibilities. The entire property sits on a 1.14-acre lot and totals 7,963 square feet of space. This turnkey operation offers a blend of income streams and prime location advantages, making it an attractive proposition for both seasoned and new investors. The property's strong cash flow potential, combined with the diverse income streams and expansion opportunities, makes this a truly unique investment opportunity in a desirable location. The combination of motel units, residential dwelling, and ample storage space, along with the expansive vacant lot, provides a high degree of flexibility and potential for future growth. This is a rare chance to acquire a well-established and profitable business with significant upside potential. The property's proximity to downtown Vermilion and Lake Erie ensures consistent demand and high occupancy rates.

• CAP approach

  CAP return

  Valuation

  6%

  $192,076

  6.5%

  $177,301

  7%

  $164,637

• Comparable approach

  Method

  Valuation

  Relative Method

  $206,630

  Geo Method

  $206,630

• Alternative Use

  Use

  Valuation

  Residential

  $193,561

  Hospitality

  $177,301

  Educational

  $147,512

  Medical

  $152,586

  Retail

  $229,464

Location Insight

City

Vermilion

County

Lorain

State

Ohio

Latitude

41.4245

Longitude

-82.3178

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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