Econo Lodge Holland - Holland, OH

  • Property Name Econo Lodge Holland
  • Asking Price $3,700,000
  • Units 120
  • Location Holland, OH

About This Property

  • 120 Units
  • Recently Renovated, Owner's PIP is Complete
  • Revenue in 2022: $1,185,000
  • Net Income of $589,330 in 2021 Resulting in a Cap Rate of 15.9%
  • Minutes from Downtown Toledo and Airport, located off Interstate 475 and nearby Interstate 90

The Econo Lodge in Holland, OH is a 120 unit, fully renovated hotel in Northwest Ohio, 10 miles from downtown Toledo and nearby to the Toledo Airport. It is located off of Interstate 475 and nearby to Interstate 90 and the Michigan border.

Revenue has increased very strongly recovering from the initial impact from Covid-19 and continues to increase against 2019. The hotel has been fully renovated with a new roof 7 years ago, as well as new flooring, bedding, lights, artwork, refrigerators and microwaves within the last few years. The hotel is right next to Walmart and a shopping mall, and an opportunity to re-brand each building separately.

The Econo Lodge is nearby within 10 miles to Fort Meigs, the University of Toledo, the Toledo Zoo, and the Toledo Express Airport. Attractions include the Toledo Speedway, the Franklin Park Mall, John F. Savage Arena, Fifth Third Field, and Lake Erie. Chili's Grill & Bar is among several restaurants within walking distance to the hotel.

In cooperation with Thomas D'Amico (OH Lic #C177678).

This agreement (“Agreement”) is between Amber Hotel Company (“Amber”) and the undersigned party (“Buyer”) who is interested in buying investment real estate.

The investment real estate is exclusively listed for sale with Amber. Amber shall provide Buyer with related confidential information, subject to the terms and conditions of this Agreement.

By checking the below box and viewing this property, you agree that:

  1. The related confidential information is provided for the sole purpose of having a Buyer evaluate the purchase of the property for itself or its affiliates. Buyer and its affiliates shall keep the related information confidential, and not reproduce, distribute or disclose such information to third parties, except to the extent third party consultants, lenders, or other agents of Buyer are required, in which case such third parties will be held to the same confidentiality standards as Buyer. Amber shall not be responsible for the accuracy or completeness of the information provided, or for any loss or expense, whether direct or indirect, arising from Buyer’s or Buyer’s affiliate’s use and reliance on the information.
  2. The undersigned principal or any company or entity in which the undersigned principal has controlling interest, including real estate brokerage companies, shall not be paid any form of commission or fee by the owner of the property for the purchase of the property.
  3. All offers and purchase agreements for the property from Buyer or its affiliates shall be submitted through Amber. Buyer shall not contact the owner of the property directly or act either directly, indirectly, through any third parties including affiliates, clients or other brokers to circumvent the purpose of this Agreement. Amber may solicit, represent and accept offers for the property from other potential buyers without obligation to this Buyer. Buyer acknowledges that real estate brokers are not qualified as experts for legal, financial, accounting, environmental, construction, soils, geological or engineering advice.

This property information, market information, and other information on this page as well as any related documents have been provided by the seller or other outside sources. Interested parties are highly encouraged to verify the information independently. Amber has not independently verified any information.