Red Roof Inn Ashtabula - Austinburg | 1860 Austinburg Rd
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Red Roof Inn Ashtabula - Austinburg 1860 Austinburg Rd
118 Room Hotel Austinburg, OH 44010 £3,579,383 (£30,334/Room)
Investment Highlights
- Huge parking lot. Can accommodate upto 15 trucks.
Executive Summary
INVESTMENT HIGHLIGHTS
• 119 Units. Priced way below Appraised value
• Prime Location in Ohio just 1 hour East of Cleveland
• Current Owner's PIP Completed
• Interior Corridor Hotel
• Direct Access to and Excellent Visibility from Interstate 90
• High growth potential for Owner/Operator
EXECUTIVE SUMMARY
The Red Roof Inn – Austinburg-Ashtabula OH is a 119-unit, two story interior corridor hotel in Northeast Ohio, just 1hour East of Cleveland on Interstate 90. It is a prime location between Cleveland Ohio and Erie PA with excellent access to and visibility from the Interstate. Current owner has spent 1 million on renovations. The Owner has completed the PIP that was required of him. Fully Renovated hotel with everything new in the rooms. New Carpet and lighting in the hallways, New Roof etc. The hotel is located across Flying J truck Stop and less than 1/4th mile from Pilot truck Stop. Less than 5 miles from Geneva On the Lake (Lake Erie). 5 miles from Spire Sports Academy
There is a 1-bed 1-bathroom manager's quarters including a kitchen and living room upstairs.
Popular Demand Generators nearby Spire Sports Academy (Paralympic Sports Center, Geneva On the Lake (Popular Tourist Site), Grand River Academy, Covered Bridges, Wine Tours, Multimillion Dollar Pig Iron Plant, Kent State University, Jefferson Fairgrounds and many more.
The property is situated on 10 Acres of land with opportunity and demand to build 2 more hotels.
Property is for Sale by Owner. NO BROKERS PLEASE. DIRECT BUYERS ONLY.
EMPLOYEES ARE NOT AWARE OF THE SALE. PLEASE DO NOT CALL THE HOTEL OR VISIT WITHOUT EXPLICT PERMISSION FROM THE OWNER.
PROPERTY FACTS
Price Per Room: $ 38,000- Priced below appraised value and replacement cost.
Sale Type Investment
Property Type Hospitality
Property Subtype Hotel
Lot Size 10 Acres
No. Rooms 119
No. Stories 2
Year Built 1963
Corridor: Interior
Reason Sale: Owner Retiring and moving out of country.
• Bar onsite- Fully operational
• Full Equipped commercial Kitchen.
• High Speed Internet Access
• Public Access Wi-Fi
• 3 Large Banquet Halls. Can hold upto 200 People
• 1 Board/Meeting Room
• 119 Units. Priced way below Appraised value
• Prime Location in Ohio just 1 hour East of Cleveland
• Current Owner's PIP Completed
• Interior Corridor Hotel
• Direct Access to and Excellent Visibility from Interstate 90
• High growth potential for Owner/Operator
EXECUTIVE SUMMARY
The Red Roof Inn – Austinburg-Ashtabula OH is a 119-unit, two story interior corridor hotel in Northeast Ohio, just 1hour East of Cleveland on Interstate 90. It is a prime location between Cleveland Ohio and Erie PA with excellent access to and visibility from the Interstate. Current owner has spent 1 million on renovations. The Owner has completed the PIP that was required of him. Fully Renovated hotel with everything new in the rooms. New Carpet and lighting in the hallways, New Roof etc. The hotel is located across Flying J truck Stop and less than 1/4th mile from Pilot truck Stop. Less than 5 miles from Geneva On the Lake (Lake Erie). 5 miles from Spire Sports Academy
There is a 1-bed 1-bathroom manager's quarters including a kitchen and living room upstairs.
Popular Demand Generators nearby Spire Sports Academy (Paralympic Sports Center, Geneva On the Lake (Popular Tourist Site), Grand River Academy, Covered Bridges, Wine Tours, Multimillion Dollar Pig Iron Plant, Kent State University, Jefferson Fairgrounds and many more.
The property is situated on 10 Acres of land with opportunity and demand to build 2 more hotels.
Property is for Sale by Owner. NO BROKERS PLEASE. DIRECT BUYERS ONLY.
EMPLOYEES ARE NOT AWARE OF THE SALE. PLEASE DO NOT CALL THE HOTEL OR VISIT WITHOUT EXPLICT PERMISSION FROM THE OWNER.
PROPERTY FACTS
Price Per Room: $ 38,000- Priced below appraised value and replacement cost.
Sale Type Investment
Property Type Hospitality
Property Subtype Hotel
Lot Size 10 Acres
No. Rooms 119
No. Stories 2
Year Built 1963
Corridor: Interior
Reason Sale: Owner Retiring and moving out of country.
• Bar onsite- Fully operational
• Full Equipped commercial Kitchen.
• High Speed Internet Access
• Public Access Wi-Fi
• 3 Large Banquet Halls. Can hold upto 200 People
• 1 Board/Meeting Room
Property Facts
| Price | £3,579,383 | Building Size | 62,376 SF |
| Price Per Room | £30,334 | No. Rooms | 118 |
| Sale Type | Investment | Number of Floors | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1963/2023 |
| Property Subtype | Hotel | Parking Ratio | 2.04/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 6.23 AC |
| Price | £3,579,383 |
| Price Per Room | £30,334 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 6.23 AC |
| Building Size | 62,376 SF |
| No. Rooms | 118 |
| Number of Floors | 2 |
| Year Built/Renovated | 1963/2023 |
| Parking Ratio | 2.04/1,000 SF |
| Corridor | Interior |
Amenities
- Fitness Centre
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wi-Fi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 118 | £105.00 | - |
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PROPERTY TAXES
| Parcel Number | 480260000300 | Improvements Assessment | £388,196 |
| Land Assessment | £140,232 | Total Assessment | £528,428 |
PROPERTY TAXES
Parcel Number
480260000300
Land Assessment
£140,232
Improvements Assessment
£388,196
Total Assessment
£528,428
zoning
| Zoning Code | Highway Commercial |
| Highway Commercial |
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Red Roof Inn Ashtabula - Austinburg | 1860 Austinburg Rd
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