Kelleys Island Venture Resort 441 W Lakeshore Dr 30 Room Hotel Kelleys Island, OH 43438 $10,386,825 CAD ($346,227 CAD/Room) 8% Cap Rate

Investment Highlights
- Expected to sell at an 8.0% CAP Rate based on 2025 performance
- Buyer has opportunity to acquire a cash flowing business with significant upside and additional value to be added.
Additional value-add opportunities:
- Opportunity to convert meeting room to additional guest rooms. Currently, the meeting room is spacious enough to host 60 guests – accordingly, it is expected the meeting room is large enough to be converted to four additional guest rooms.
- Opportunity to add tiki bar to waterfront parcel across from hotel. The waterfront parcel (owner by seller and transferring upon sale to buyer) is currently used as a waterfront private deck and common amenity for guests. A buyer can explore the opportunity to add a tiki bar which will provide a unique, and needed, F&B component for guests and other visitors on the island.
- Opportunity to cater to wedding business. Given the property being the only traditional hotel on Kelleys Island as well as its picturesque location and access to waterfront dock – the hotel has a unique opportunity to host weddings which is expected to significantly boost the property’s total revenue and bottom-line.
- Seasonal business – as property is only running for 6-7 months of the year, it is able to command premium rates during season. As such, the hotel is expected to generate over $1,100,000 room revenue in 2025 (Approximately $195 RevPAR), despite only operating with 31 rooms.
- Offered for sale at significant discount to replacement cost. Due to the island location and rising costs of materials & labor, current construction costs for a property of this caliber is expected to exceed $12,000,000.
Property Highlights
- Property is the island’s sole hotel/resort, offering a unique value position with virtually no competition. The only alternative lodging options on the island include smaller bed & breakfast properties which are not able to compete at the same scale or offer similar amenities.
- Absentee-owned and professionally run by third-party management company. Buyer has an opportunity to retain current third-party management company or property can be delivered unencumbered by any management contract.
- Diverse mix of units featuring an average size of unit exceeding 620 sq. ft. Please view page 9 of Offering Memorandum for detailed unit mix.
- Each suite features a private patio overlooking the pool, hot tub, and lake, enhancing guest experience and appeal.
- The island’s small size and limited lodging options mean less competition, allowing the resort to capture a significant share of visitors seeking upscale accommodations.
- High barrier-to-entry market. Situated on the south shore of Kelleys Island, the resort offers panoramic views of Lake Erie, Marblehead Peninsula, and Cedar Point.
- Unique & exclusive location – only accessible by ferry, boat or plane. Majority of visitors enter through the Sandusky Ferry which makes multiple trips daily during season.
- Benefits from being within a region (Lake Erie Shores & Islands) that has a robust and high active tourism market.