1575 Sandusky AveBucyrus, OH 44820

Property Details for 1575 Sandusky Ave

Lot size

0.71 AC

Property type

Land

Property subtype

Commercial land

APN

09-0003928.000

APU

90003928000

Description

This exceptional investment opportunity presents a 62-key Holiday Inn Express & Suites hotel located at 1575 N Sandusky Ave, Bucyrus, OH 44820. Priced at $6,800,000, this fee-simple property boasts a strong 8.52% cap rate and a healthy net operating income (NOI) of $579,121. The hotel, built in 2000 and renovated in 2021, sits on a 1.872-acre lot and features 20,000 square feet of space across three stories. Amenities include an elevator, fitness center, indoor pool, and meeting room. The property includes 70 parking spaces. The unit breakdown consists of 33 non-smoking rooms, 22 suites, and 7 accessible rooms. Individual PTAC units provide heating and cooling. The building is constructed of wood frame with a pitched, shingled roof. The hotel's current occupancy rate stands at 68.8% as of February 29, 2024, generating a room revenue of $1,840,540. The average daily rate (ADR) is $117.88, and the revenue per available room (RevPAR) is $81.11. This profitable hotel offers significant upside potential for an owner/user. The property is zoned commercial and has a Crawford County APN of 09-0003928.006. This is a turnkey operation with a proven track record of success.

• Alternative Use

  Use

  Valuation

  Residential

  $6,705,250

  Hospitality

  $6,141,974

  Educational

  $5,110,050

  Medical

  $5,285,792

  Retail

  $7,948,966

Location Insight

City

Bucyrus

County

Crawford

State

Ohio

Latitude

40.8249

Longitude

-82.9754

CBSA code

15340

CBSA name

BUCYRUS, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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