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Economy Inn 2329 N Ridge Rd E 22 Room Hotel Ashtabula, OH 44004 $1,199,000 ($54,500/Room) 9.88% Cap Rate
Investment Highlights
- Prominent visibility along North Ridge Road East with accessible frontage
- Multiple guest room types tailored to varying traveler needs
- Outdoor amenity spaces support guest relaxation and events
- Well-appointed lobby area designed for efficient guest arrivals
- Dedicated service corridors enable smooth on-site operations
- Opportunity for branded hospitality conversion or independent boutique concept
Executive Summary
Discover the vibrant possibilities of Ashtabula, Ohio, the perfect location for your next hospitality investment. This charming area offers a dynamic blend of natural beauty, including the stunning Lake Erie, as well as cultural attractions like the Ashtabula Arts Center and the Hubbard House Underground Railroad Museum. Visitors will be drawn to the nearby historic Ashtabula Harbor, a scenic waterfront district featuring quaint shops, dining, and entertainment options. With easy access to wineries, golf courses, and outdoor recreation, the area provides endless opportunities for a successful hospitality or full-service venture. Embrace the potential of this thriving community and create a memorable destination experience at your next investment location.
Property Facts
| Price | $1,199,000 | Lot Size | 0.89 AC |
| Price Per Room | $54,500 | Building Size | 8,801 SF |
| Sale Type | Investment | No. Rooms | 22 |
| Cap Rate | 9.88% | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1955/2009 |
| Property Subtype | Hotel | Parking Ratio | 3.64/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Zoning | Motel | ||
| Price | $1,199,000 |
| Price Per Room | $54,500 |
| Sale Type | Investment |
| Cap Rate | 9.88% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 8,801 SF |
| No. Rooms | 22 |
| No. Stories | 1 |
| Year Built/Renovated | 1955/2009 |
| Parking Ratio | 3.64/1,000 SF |
| Corridor | Exterior |
| Zoning | Motel |
Amenities
- High Speed Internet Access
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 22 | $111.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 030430001600 | Improvements Assessment | $56,980 |
| Land Assessment | $65,070 | Total Assessment | $122,050 |
Property Taxes
Parcel Number
030430001600
Land Assessment
$65,070
Improvements Assessment
$56,980
Total Assessment
$122,050
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