1831 Austinburg RdAustinburg, OH 44010
- Hospitality properties
- 44,925 SF
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
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
Comparable in this City
Similar Nearby for Sale
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