Significant Investment Opportunity: Ohio 2-Motel Boutique Portfolio in Premier Lakefront Resort Arena
Press Release – Motels For Sale Ohio
Hotel Brokers World
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Significant Investment Opportunity: Ohio 2-Motel Boutique Portfolio in Premier Lakefront Resort Arena – Image Credit Hotel Brokers World
The Ohio 2-Motel Boutique Portfolio, produced from The Fingers Motel and Pete’s Lakefront Motel, is now readily available at a blended asking sign of $2,400,000. This price-add portfolio contains two boutique hotels — together providing 32 keys — strategically positioned within the extremely visited Geneva-on-the-Lake resort hall.
Laurel Precise Estate Co., a member of Hotel Brokers World, has listed a rare hospitality funding opportunity in a single of Ohio’s most dynamic resort markets. The Ohio 2-Motel Boutique Portfolio, produced from The Fingers Motel and Pete’s Lakefront Motel, is now readily available at a blended asking sign of $2,400,000. This price-add portfolio contains two boutique hotels — together providing 32 keys — strategically positioned within the extremely visited Geneva-on-the-Lake resort hall.
The portfolio represents a compelling acquisition for investors searching out for a seasonal tourism-driven asset with upside doubtless. The properties are situated along Geneva’s standard Strip, a chief space identified for its lakefront appeal, entertainment offerings, and solid vacationer query.
Key Investment Highlights:
- Lakefront Resort Exposure: Both hotels have confidence the benefit of proximity to Lake Erie, providing non-public beach obtain entry to and excessive visibility to regional leisure traffic.
- Turnkey Boutique Providing: The portfolio entails two stand-alone, just hotels, casting off franchise charges and enabling versatile operational methods.
- Renovated & Enhanced: Most recent capital improvements exceeding $1.5 million comprise novel roofing, ground, HVAC, washers/dryers, and guest room upgrades.
- Owner/Operator & Short-Term Condo Upside: One motel functions a 2,000-sq.-foot penthouse with three bedrooms and two baths, correct for an proprietor suite or non eternal condo earnings.
- Seasonal Earnings with Year-Round Possible: Properties have confidence historically operated seasonally (approximately 5 months), with definite pathways to lengthen occupancy and earnings all around the year.
- Handsome Financials: Listed with an 8.3% cap rate supported by existing NOI and embedded relate alternatives.
This uncommon providing is effectively-positioned to grasp query from leisure vacationers, rapid-take care of bookings, and experiential company drawn to Geneva-on-the-Lake’s combination of leisure facilities, local sights, and waterfront entertainment alternate solutions.
Checklist Snapshot:
- Asking Price: $2,400,000
- Arena: Geneva-on-the-Lake, Ohio
- Property Form: Hospitality / Motel Portfolio
- Entire Keys: 32
- Year Built: 1960, 1967 (renovated 2021)
- Cap Rate: 8.32%
Contact:
For more knowledge or to ask a confidential providing memorandum, please contact the checklist brokers at Laurel Precise Estate Firm. Lauren D’Souza-Faze, Vice President, (380) 799-6608, lauren.dsouza@laurelsales.com
About Laurel Precise Estate Co.
Founded in 2002, Laurel Precise Estate Co. is a boutique exact property brokerage bright about hospitality properties. With operations in Ohio and Florida, Laurel Precise Estate Co. has supplied over 300 properties ranging from beachfront hotels to paunchy-service hotels and event facilities. To look at active listings and predict about selling your hotel, please consult with www.laurelhotelbrokers.com.
For more knowledge:
Lauren D’Souza-Faze
Laurel Precise Estate Co.
380.799.6608
lauren.dsouza@laurelsales.com
