Description

UPDATE: USDA FINANCING HAS BEEN PRE-APPROVED

READY TO BUILD - 68 ROOM HOLIDAY INN EXPRESS HOTEL & SUITES
Part of a 93 acre mixed use development this project is ready to pull permits and begin construction.
Situated on 1.75 acres the site engineering, architectural plans, zoning, appraisal, and franchise is complete. All that is left is to apply for permits, obtain construction financing and begin construction.
Appraised in May 2008 the property has a stabilized revenue projection of $1,518,000 at 60% occupancy and a $102 ADR and a value of $6,200,000.
Build it yourself or we can build-to-suit. The developer will deliver the site in a pad ready condition.

FOR DETAILED INFORMATION YOU MUST COMPLETE THE ATTACHED CONFIDENTIALITY AGREEMENT AND RETURN TO US.

Norwalk is located roughly halfway between Toledo and Cleveland, 5 miles south of the I-80/90 Ohio Turnpike on US 250, and 15 miles south of the greater Sandusky area.
This hotel project is a central part of the 93 Acre Mixed Use Norwalk Commons development project that includes a business conference center, movie theater, restaurants like Bob Evans and Applebees, retail strip centers, medical office buildings, senior housing, and apartments.

Demand generators include the greater Sandusky area, Lake Erie, NHRA Summit Racing Park, NASA's Plum Brook Station, local tourism and business clients.