1831 Austinburg RdAustinburg, OH 44010

  • Hospitality properties
  • 44,925 SF
For Sale
$8,700,000 View listing

Property Details for 1831 Austinburg Rd

Year built
2000
Construction
WOOD
Lot size
2.60 AC
Property size (Sq ft)
44,925 SF
Property type
Hospitality properties
Property subtype
Hotels
APN
48-026-00-007-01
APU
480260000701

Description

This exceptional 77-room Holiday Inn Express & Suites hotel, built in 2000, presents a compelling investment opportunity. Located in Austinburg, Ohio, at 1831 Austinburg Rd (zip code 44010), this property boasts a prime location just off I-90, offering easy access to major businesses and attractions. The 44,925 square foot hotel sits on a 2.312-acre lot and is priced at $8,700,000, translating to $193.66 per square foot. The hotel features 77 guest rooms, including 21 suites, catering to a diverse range of travelers. Its strategic location near Cristal Global, Molded Fiber Glass, General Aluminum, Norfolk Southern, and King Luminaire makes it attractive for business travelers. Leisure travelers are also well-served by its proximity to Ohio Wine Country, Grand River Valley, Lake Erie's coast (Geneva-on-the-Lake), and the Spire Olympic Training Center. This fully operational hotel offers a strong track record and significant potential for future growth. Detailed financial information is available upon request. This is a rare opportunity to acquire a well-established, high-performing hotel in a desirable location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $9,179,809
    6.5%
    $8,473,670
    7%
    $7,868,408
  • Comparable approach

    Method
    Valuation
    Relative Method
    $9,875,369
    Geo Method
    $9,875,369
  • Alternative Use

    Use
    Valuation
    Residential
    $9,250,786
    Hospitality
    $8,473,670
    Educational
    $7,049,994
    Medical
    $7,292,454
    Retail
    $10,966,658
1831 Austinburg Rd, Austinburg, Ohio

Location Insight

City
Austinburg
County
Ashtabula
State
Ohio
Latitude
41.7905
Longitude
-80.8539
CBSA code
11780
CBSA name
ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$68,593
$121,380
$838,670
$960,050
-
$346,800
$2,396,200
$2,743,000

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