Listing Number: 60352-841096
Description
This well-established boutique hotel and vacation rental business is located in the heart of one of Lake Erie's busiest tourist islands. It’s a turn-key operation that offers a relaxed seasonal or retirement lifestyle, complete with stunning lake views and proximity to a National Monument. The property presents great potential for further growth, making it an ideal opportunity for an entrepreneur looking to scale operations in a thriving tourist destination.
The island is known as one of the top vacation spots on Lake Erie’s “North Coast,” attracts nearly a million visitors annually. Just a short ferry ride from Cedar Point, the world’s largest roller-coast amusement park, the island is a hub for entertainment and relaxation. With its lively atmosphere and performances from major artists like Brad Paisley, Toby Keith, and Blake Shelton, the island is often compared to a smaller version of Las Vegas.
The property spans five adjacent lots, totaling around 27,500 square feet, and includes multiple buildings providing seven rental units and two staff accommodations. The historic homes are fully furnished and can be rented as individual units or divided into apartments. Modern conveniences like keyless entry, wireless internet, and a video surveillance system make it easy to manage remotely. With most bookings automated and cleaning and landscaping services outsourced, the business runs smoothly with minimal staff (existing providers can remain if desired).
Listing Details
- Price: $3,500,000
- Down Payment: $3,500,000
- Sellers Discretionary Earnings: $253,096
- Total Sales: $355,155
- Location: Ottawa County, Ohio
- Inventory: $0
- FF&E: $0
- Employees: 2
- Year Established: 2004
- Reason for Selling: Divestment
- Category: Real Property Rltd
