Second Sale Date:
Thursday, January 1st @
More Information
Days Inn Hotel
600 Days Blvd Conneaut, OH 44030
Bidding starts at $1,000,000
The property has 105 rooms, 103 bathrooms, 53,569 sq ft, and sits on 10.346 acres.
Great opportunity to acquire a substantial hospitality property in Conneaut, Ohio. Located near Interstate 90, this property offers an established hotel facility positioned to serve travelers throughout Northeast Ohio and Northwest Pennsylvania.
The two story property has 53,569 sq ft of space and has historically operated as a Days Inn hotel. the property includes guest accommodations along with a variety of hospitality-related amenities and supporting facilities. Its location provides convenient access to I-90, Lake Erie, Conneaut Township Park, local restaurants, recreational attractions and local area points of interest.
PROPERTY HIGHLIGHTS
•Established hotel property with 105 rooms
•Convenient location near I-90
•85 rentable Guest rooms and suites
•On-site restaurant/lounge area
•Meeting/event space
•100+ on-site parking spaces
•Semi-truck/RV parking
•Convenient access to Lake Erie
•Near Conneaut Township Park and other area attractions
•Located along the I-90 corridor between Cleveland and Erie, Pennsylvania
•3 Parcels totaling 10.346 acres
•Potential opportunity for an investor, hospitality operator or redevelopment-minded purchaser
LOCATION
The property is located in Conneaut, Ohio, approximately 30 miles from Erie, Pennsylvania, and within convenient driving distance of Cleveland and other communities throughout Northeast Ohio and Northwest Pennsylvania. Its proximity to I-90 provides connectivity for both regional and interstate travelers.
Conneaut’s location along the Lake Erie shoreline offers access to recreational, boating, fishing and tourism-related activities, as well as local restaurants, parks and attractions.
INVESTMENT OPPORTUNITY
This property presents an opportunity to acquire an existing hotel facility with significant infrastructure already in place for hospitality use. Prospective purchasers may wish to evaluate the property for continued hotel operations, repositioning, renovation, alternative hospitality use or other permitted redevelopment opportunities.
Purchasers are encouraged to conduct their own independent due diligence regarding property condition, room count, square footage, zoning, permitted uses, licenses, permits, environmental conditions, operating history, franchise agreements and all other property information prior to bidding.
Lot Size: 10.346 acres
Annual Taxes: $34,449
Plaintiff
Treasurer of Ashtabula County
Defendant Name
RK Hotels and Investments LLC
Attorney
The Summit Law Group
Viewing Dates
The property is still in use and available for showings. If you wish to have a showing, text the Auctioneer with your name and the address of the property you wish to see. We will schedule an appointment for you.
Property Map
Basic Terms:
* This is a Foreclosure Auction ordered by the Ashtabula County Common Pleas Court. The foreclosure process intends to clear all liens and encumbrances on the subject property. You are encouraged to purchase Title Insurance at closing for an extra layer of protection.
* The property sells with a minimum opening bid of $1,000,000.
* The required deposit is 10% of the high bid.
* The successful bidder will be required to wire or direct deposit the above amount into the trust account of Ohio Sheriff Sales by 5:00 pm day of auction. If the deposit has not been made by stated time, the purchaser automatically authorizes Ohio Sheriff Sales to charge the credit card provided at the time of registration for the required deposit amount plus a 10% processing fee.
* The real estate is sold As-Is with no contingencies.
* Closing required within 30 days of court confirmation.
* No contract is signed after the auction. A one-page Purchaser Information Form is the only document that is required by the Court. See the Documents section of this listing for the form.
* A 10% buyer's premium will be added to the high bid to obtain the final selling price.
* Buyer pays all closing costs.
* Private Selling Officer Deed or equivalent given at closing.
* Provisional Auction Date: N/A
* The purchaser shall be responsible for those costs, allowances, and taxes that the proceeds of the sale are insufficient to cover. This generally only comes into play when a property goes to a 2nd auction with no minimum bid, or the property sells for less than is owed for back taxes and court costs.
* BUYER DEFAULT: Be aware, if you are unable to close within 30 days of court confirmation, your deposit is non-refundable, and you could be liable for other costs and penalties including being found in contempt of court.
* CASH ONLY SALE: All sales are considered CASH ONLY with no contingencies. You MAY be able to obtain financing on properties where interior access is available. Banks and Mortgage Co’s will only lend on properties when they can receive an interior appraisal. Keep in mind, the purchase of the property is not contingent upon the result of the appraisal or being denied for financing. The property is being sold AS IS with no warranties or guarantees.
* BIDDING NOTES:
Bid Increment: Required bidding increment is $1,000 up to $500,000 and $5,000 thereafter. Max Bid: Place your 'Max Bid' in the bid box, click the bid button and select whether you want to raise to your maximum or bid the next increment allowing the system to bid on your behalf up to your max bid. You will be notified by email and or text if your maximum is exceeded by another bidder if you enable texts and emails. Bid Extensions: If a bid is placed in the last 3 minutes before the scheduled auction end time, bidding will extend back out to 3 minutes. Bid extensions will continue until a 3-minute period of time elapses after the stated auction end time with no advance in the bidding.