**Bidding will take place January 27-29**

OVERVIEW
• Opportunity for fee simple acquisition of 178-unit, interior corridor property featuring over 10,000 square feet of event space and on-site (leased) restaurant generating $300,000 in annual rental income.
• Well-situated in a growing suburb of Cleveland with access to multiple diverse demand generators, including corporate travel and Cleveland leisure.
• Ten-X starting bid of $1.5M presents opportunity to attain asset for significant discount to replacement.

INVESTMENT HIGHLIGHTS
• Multiple conversion opportunities available, including Delta by Marriott, Radisson, Best Western, Clarion Pointe, and Quality Inn.
• Large upside opportunity: September 2024 STAR Report shows unrealized gains of over $1.6M when adjusted per competitive set.

MARKET HIGHLIGHTS
• Located in desirable Cleveland suburb near multiple demand generators, including The Cleveland Clinic, professional sports arenas (MLB, NBA, NFL), and Cleveland entertainment (Cleveland Metroparks Zoo, Rock & Roll Hall of Fame).
• Property is well-positioned to capture increased traffic to Cuyahoga County – over 18.3 million visitors came to Cuyahoga County for leisure or business in 2023. Travel and tourism in Cuyahoga County accounted for $6.7 billion in direct sales and generated a total economic impact of $10.9 billion when indirect and induced spending are included.

Highlights:

Room Inventory Description:

Address: 5300 Rockside Road, Independence, OH 44131
Room Count: 178
Year Built :1974
Buildings :1 building
Stories: 5 stories
Amenities: Restaurant (leased), bar, 2 ballrooms, 6 meeting spaces, indoor pool, outdoor event spaces (10,209 square feet of meeting space)
Conversion Opportunities: Delta by Marriott, Radisson, Best Western, Clarion Pointe, Quality Inn
Parcel Size: 6.53 acres
Construction: Concrete
HVAC: Individual PTAC units
Roof: Flat, Rubber
Elevators: 2 guest, 1 service
Fire Safety: Wet sprinkler

Common area amenities:

Source of Business:

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