5169 Lake RdGeneva, OH 44041

Property Details for 5169 Lake Rd

Year built

1967

Construction

WOOD

Lot size

0.50 AC

Property size (Sq ft)

3,600 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

21-030-00-059-00

APU

210300005900

Description

Exceptional opportunity to acquire a fully renovated, 17-key motel in Geneva, Ohio. This turnkey property boasts 4,787 square feet on a 0.5-acre lot, featuring 17 rooms (four doubles, one handicap accessible, twelve single king rooms) and a range of amenities including a common area, office space, pool house, public and staff bathrooms, and an in-ground pool with a waterfall. The property, built in 1967 and extensively renovated in 2022, is zoned commercial and offers significant income potential. Currently operating seasonally (Memorial Day to early September), the motel is fully furnished, including linens, bedding, furniture, appliances, and TVs. All necessary equipment and furnishings are included in the sale price of $1,499,900, representing a price per key of $88,229.41 and a strong 12% cap rate with a net operating income (NOI) of $180,000. The property's prime location in a seasonal resort area presents an opportunity for year-round operation. An additional 17 keys with a private beach are available for separate purchase, offering potential for expansion. The property's Assessed Parcel Number (APN) is 210300005900. This is a rare chance to own a profitable, well-maintained hospitality business in a desirable location. The previous contract fell through, making this a second chance to acquire this exceptional investment.

• CAP approach

  CAP return

  Valuation

  6%

  $735,611

  6.5%

  $679,025

  7%

  $630,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $791,348

  Geo Method

  $791,348

• Alternative Use

  Use

  Valuation

  Residential

  $741,298

  Hospitality

  $679,025

  Educational

  $564,941

  Medical

  $584,370

  Retail

  $878,797

Location Insight

City

Geneva

County

Ashtabula

State

Ohio

Latitude

41.8612

Longitude

-80.9415

CBSA code

11780

CBSA name

ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].