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Exceptional Investment Opportunity: Ohio 2-Motel Boutique Portfolio in Premier Lakefront Resort Location – Image Credit Hotel Brokers International
The Ohio 2-Motel Boutique Portfolio, comprised of The Palms Motel and Pete’s Lakefront Motel, is now available at a combined asking price of $2,400,000. This value-add portfolio consists of two boutique motels — together offering 32 keys — strategically positioned in the highly visited Geneva-on-the-Lake resort corridor.
Laurel Real Estate Co., a member of Hotel Brokers International, has listed a rare hospitality investment opportunity in one of Ohio’s most dynamic resort markets. The Ohio 2-Motel Boutique Portfolio, comprised of The Palms Motel and Pete’s Lakefront Motel, is now available at a combined asking price of $2,400,000. This value-add portfolio consists of two boutique motels — together offering 32 keys — strategically positioned in the highly visited Geneva-on-the-Lake resort corridor.
The portfolio represents a compelling acquisition for investors seeking a seasonal tourism-driven asset with upside potential. The properties are situated along Geneva’s popular Strip, a prime location known for its lakefront appeal, entertainment offerings, and strong tourist demand.
Key Investment Highlights:
- Lakefront Resort Exposure: Both motels benefit from proximity to Lake Erie, offering private beach access and high visibility to regional leisure traffic.
- Turnkey Boutique Offering: The portfolio includes two stand-alone, independent motels, eliminating franchise fees and enabling flexible operational strategies.
- Renovated & Enhanced: Recent capital improvements exceeding $1.5 million include new roofing, flooring, HVAC, washers/dryers, and guest room upgrades.
- Owner/Operator & Short-Term Rental Upside: One motel features a 2,000-square-foot penthouse with three bedrooms and two baths, suitable for an owner suite or short-term rental revenue.
- Seasonal Revenue with Year-Round Potential: Properties have historically operated seasonally (approximately five months), with clear pathways to expand occupancy and revenue throughout the year.
- Attractive Financials: Listed with an 8.3% cap rate supported by existing NOI and embedded growth opportunities.
This unique offering is well-positioned to capture demand from leisure travelers, short-stay bookings, and experiential guests drawn to Geneva-on-the-Lake’s mix of recreational amenities, local attractions, and waterfront entertainment options.
Listing Snapshot:
- Asking Price: $2,400,000
- Location: Geneva-on-the-Lake, Ohio
- Property Type: Hospitality / Motel Portfolio
- Total Keys: 32
- Year Built: 1960, 1967 (renovated 2021)
- Cap Rate: 8.32%
Contact:
For more information or to request a confidential offering memorandum, please contact the listing brokers at Laurel Real Estate Company. Lauren D’Souza-Faze, Vice President, (380) 799-6608, [email protected]
About Laurel Real Estate Co.
Founded in 2002, Laurel Real Estate Co. is a boutique real estate brokerage focused on hospitality properties. With operations in Ohio and Florida, Laurel Real Estate Co. has sold over 300 properties ranging from beachfront motels to full-service hotels and event centers. To view active listings and inquire about selling your hotel, please visit www.laurelhotelbrokers.com.
For more information:
Lauren D’Souza-Faze
Laurel Real Estate Co.
380.799.6608
[email protected]
