SG 11265 Ohio Cleveland Middleburg Heights Branded Hotel

Asking Price$4,350,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross Revenue$1,550,000

InventoryNot Disclosed

FF&ENot Disclosed

Real EstateNot Disclosed

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SG 11265 Ohio Cleveland Middleburg Heights Branded Hotel


Asking Price$4,350,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross Revenue$1,550,000

InventoryNot Disclosed

FF&ENot Disclosed

Real EstateNot Disclosed

Business Description
$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 an NDA in place.  As a previous brand, the hotel averaged $1.2 million in revenue before being remodeled.  The property just reopened in November '23.  It had been closed due to COVID & difficulty finding staff.  There are 106 rooms total.  The seller operated only 41 of 106 rooms (Building A).  The seller has invested $800,000 into property remodeling.  The property is thoroughly PIP'd (Property Improvement Plan).  The ADR has been averaging around $60.  However, the hotel booked 106 rooms at $299 per night for the Women's Final Four.  The seller kept Building B closed during the winter months.  Some of the $800,000 in capital improvements include remodeling every single room in the property, except for 15 – 18 rooms, at $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 proximity to major highways.  This property can be converted to apartment units.  Bank financing is possible.  Profitable operation.  Seller is motivated and willing to make the right deal with the right owner-operator.  Please “do not disturb the employees” and call REMAX Preferred Group, presented by The Saleh Group for more information and showings, or visit us online
About the Business
Facilities & Assets
106-room hotel and suites, Stand-Alone Building
Real Estate
Owned or Leased
Owned
Included in asking price
Building Sq. Ft.
41,964
About the Sale
Seller Motivation
Seller is downsizing due to other businesses.  Lives too far
Transition Support
2 weeks at no cost to the buyer
Listing Info
ID
2440037
Listing Views

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Business Listed by: Nidal Saleh The Saleh Group RE/MAX Preferred Group

Listing ID: 2440037 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.