1831 Austinburg RdAustinburg, OH 44010

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

Hotels

Property subtype

Motels

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.

• 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

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

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