SG 10163 Ohio Cleveland Middleburg Heights Branded Hotel

Ohio Cleveland Middleburg Heights Branded Hotel

Business & Property for Sale

E2-EB5 Qualified

$4,350,000 for Ohio Cleveland Middleburg Heights Branded Hotel Business & Property. The hotel is trending to do $1.55 million this year.  Star reports are available upon request for qualified buyers with NDA.  As a previous brand the hotel averaged $1.2 million without being remodeled.  The property just reopened in Nov. ’23. It had been closed due to Covid & difficulty finding staff.  There are 106 rooms total. The seller was only operating 41 rooms (Building A) of the total 106 rooms.  The seller has invested $800,000 into property remodeling.  The property is fully PIP’d (Property Improvement Plan).  The ADR has been averaging around $60.  However when the Women’s Final Four comes to town the Hotel books 106 rooms at $299 per night.  The seller kept Building B closed during the winter month.  Some of the $800,000 in capital improvements are the remodeling of every single room in the property with the exception of 15 – 18 rooms with a cost of $5k/room.  Roof – brand new on both buildings $150k+.  80% of  PTAC units are new and the common maintenance areas have been updated.  The seller is selling because he lives out of state & the hotel is several hours from his home.  Great Location in an upscale area of Cleveland minutes from the Airport and close proximity to major highways.  This property can be converted to apartment units.  Bank financing possible.  Profitable operation.  Seller motivated and willing to make the right deal with the right owner operator.  Please “do not disturb the employees” and call The Saleh Group at 614-500-8500 for more information and showings or visit us online at www.salehgroup.com.

• SG Number: SG 10162
• Business Type: Hotel, Motel
• Business Name: SG 10162 Cleveland Middleburg Heights Branded Hotel
• Listing Price: $4,350,000 for Business & Property.
• Down Payment:  Negotiable
• Proposed Seller Financing Availability: Seller to Assist with Bank Financing
• Annual Gross Sales:  Over $1,550,000
• Annual Owner Profits:  To be determined
• Mortgage Payment:  To be determined
• Seller Competition: Seller to Sign a Non-compete Agreement
• Years Seller has Owned/Operated Business: 2014 by seller
• Owner Qualifications: Experience Needed but Not Required
• Reason for Selling: Seller Downsizing due to other businesses.  Lives too far
• # of Employees/Management:  5FT 1PT 1M
• Hours of Operation: 24 Hours
• Building Size/Type: 106 rooms hotel and suites, Stand Alone Building
• Training Provided: 2 weeks at no cost to buyer
• State: Ohio
• Country: U.S.A.