2-Motel Boutique Portfolio

Highlights

• Both properties are run 5 months of the year and have potential for year-round operation.
• Both properties have been extensively renovated, including new mattresses (2021), vinyl plank (2021), metal roof (The Palms - 2023), flat rubber roof (Petes - 2021), washers & dryers (2021), and HVAC (2022).
• Located in a highly renowned resort location, which attracts 19.5 million visitors and $520.7 million in tourism-related spending each year.
• Motels are located 0.2 miles away from one another, both along the highly sought-after Geneva-on-the-Lake Strip.
• Petes Motel includes a 2,000-square foot penthouse with 3 beds and 2 baths. Penthouse could be used as an owner suite or used as a short-term rental.
• While the area thrives on summer season tourism, other attractions, including wineries, arcades, and an 18-hole golf course, supply demand throughout the year.

Location

Located at 5225 Old Lake Road, Geneva, OH 44041, this property is part of the Geneva-on-the-Lake neighborhood and Cleveland Akron market.