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24399 Lorain Rd
North Olmsted, OH 44070
Auction of Motel, Restaurant & House · Hospitality Property For Sale
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19,738 SF
Property Facts
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built | 1989 |
| Building Class | C | Tenancy | Single |
| Lot Size | 2.22 AC | Parking Ratio | 4.86/1,000 SF |
| Building Size | 19,738 SF | Corridor | Exterior |
| Zoning | CRG | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.22 AC |
| Building Size | 19,738 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Tenancy | Single |
| Parking Ratio | 4.86/1,000 SF |
| Corridor | Exterior |
| Zoning | CRG |
About 24399 LORAIN RD , NORTH OLMSTED, OH 44070
73 room motel, newer 2 story owners home, plus a restaurant. The motel is being operated as Economy Inn and Suites. There are 73 rooms. 30 are currently rentable. Most of the rentable rooms are full each night either by weekly or nightly rentals. Per night charge is $52. Weekly rate is $228. Average monthly gross income is $27,000. The house was previously used by the owners of the motel. It was built in 1996. Two story, Eight room, 3,038 SF, 4 bedroom, 2.5 bath, 1 car attached garage, fireplace, open 2 story family room, Parcel ID for this property is 237-01-002. It is landlocked and cannot be sold separately from the motel. This parcel has the tax information for the motel also. This house could easily rent for $1,500 to $2,000 per month. The restaurant was most recently the Nuevo Acapulco Mexican restaurant. The last transfer price for the entire property was $1,700,000 in 2004. Located in the N. Olmsted combined school district. Close proximity to the Cleveland Hopkins International airport. Lot Size: 1.763 Acres according to Cuyahoga Co. Annual Taxes: $52,000
Property Taxes
| Parcel Number | 237-01-002 | Improvements Assessment | $64,190 |
| Land Assessment | $203,210 | Total Assessment | $267,400 |
Property Taxes
