1530 Cleveland RdSandusky, OH 44870

Property Details for 1530 Cleveland Rd

Year built

1950

Lot size

0.68 AC

Property size (Sq ft)

12,300 SF

Property type

Hotels

APN

57-00766-000

APU

5700766000

Description

This exceptional 103-unit hotel presents a lucrative investment opportunity in the thriving Lake Erie Shores & Islands region of Sandusky, Ohio. Boasting a prime location just five minutes from Cedar Point amusement park, Cedar Point Sports Center/Sports Force Parks, and downtown Sandusky, this property benefits from the area's robust $2.7 billion tourism industry and 13 million annual visitors. The hotel features a fully operational lobby, a complete restaurant with all equipment included, a one-bedroom house, and a county liquor permit (state license not included). Guest rooms are fully furnished and equipped with recently upgraded amenities such as new HVAC systems, apartment-style refrigerators, and electronic door locks. A swimming pool and courtyard enhance the guest experience, while on-site laundry facilities add convenience. The property also includes ample parking and expansion potential across its eleven parcels, encompassing approximately 3.7 acres. The diverse room types cater to a wide range of guests, including 1 two-bedroom king suites with kitchens, 5 king studios, 25 single king rooms, 65 double-double rooms, and 7 single-double rooms. A full-time maintenance staff has ensured the property's upkeep, and it has been utilized for employee housing. A detailed inventory of included items is available upon request. This turnkey operation is ready for a new owner to capitalize on the region's consistent tourism revenue.

• CAP approach

  CAP return

  Valuation

  6%

  $2,513,337

  6.5%

  $2,320,003

  7%

  $2,154,289

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,703,774

  Geo Method

  $2,703,774

• Alternative Use

  Use

  Valuation

  Residential

  $2,532,770

  Hospitality

  $2,320,003

  Educational

  $1,930,215

  Medical

  $1,996,598

  Retail

  $3,002,557

Location Insight

City

Sandusky

County

Erie

State

Ohio

Latitude

41.4426

Longitude

-82.6883

CBSA code

41780

CBSA name

SANDUSKY, OH METROPOLITAN 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].