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The Palms Poolside Motel 5169 Lake Rd E

17 Room Hotel Geneva, OH 44041 $1,499,900 ($88,229/Room)

Executive Summary

17 Room Motel that has been completely updated and remodeled within the last 3 years. (4) double occupancy, (1) handicap accessible, 12 single king rooms. There is a common area that could be used for games or continental breakfast, office/greeting area, hospitality/storage area, pool house, public bath, worker bath, in-ground pool with waterfall wall feature. This property has loads of income potential. Currently, bookings reflect income Memorial Day until the first weekend in September. This could be open year round if desired. All linens, bedding, patio furniture, room furniture, benches, refrigerators, heating/cooling units, hospitality grade TVs are included. This is a complete turn-key opportunity.

Property Facts

Price $1,499,900
Price Per Room $88,229
Sale Type Investment
Property Type Hospitality
Property Subtype
Hotel
Building Class C
Lot Size 0.50 AC
Building Size 4,100 SF
No. Rooms 17
No. Stories 1
Year Built/Renovated 1967/2021
Parking Ratio 3.41/1,000 SF
Corridor Exterior

Amenities

  • Pool
  • Shuttle Service
  • High Speed Internet Access
  • Patio
  • Public Access Wifi
  • Smoke-Free

Room Mix Information

Description No. Rooms Daily Rate SF
Guest Room 17 $191.00 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
210300005900
Land Assessment
$22,860
Improvements Assessment
$43,680
Total Assessment
$66,540

zoning

Zoning Code C
C
  • Listing ID: 29995570

  • Date on Market: 11/8/2023

  • Last Updated:

  • Address: 5169 Lake Rd E, Geneva, OH 44041

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