Hospitality Business for Sale in Independence, OH

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Independence, OH 44131
  • Year built: 1997

Description

The Hampton Inn & Suites is located in one of the best locations in a high barrier to entry Class A office suburb at the strategic Interstate 77 and Interstate 480 and is 15 minutes from Downtown Cleveland with over 250,000 vehicles per day from the two interstates. The hotel has excellent highway visibility and is surrounded by over 4.4 million square feet of office space and over 270 dining options nearby. Other points of interest include Cleveland State University, Cuyahoga County Fairgrounds, Wolstein Center, First Energy Stadium, Progressive Field. The property has strong demand from businesses like the nearby Cleveland Metropark Zoo, Rocket Mortgage Field House, Rock and Roll Hall of Fame, JACK Cleveland Casino and more. Investment Highlights: • Block and Plank Construction Absentee Original Developer • 250K Plus Vehicles per Day Strategic Location 10 Minutes from Downtown • Long Term Hilton Relicense • $3.5 Million Plus Room Revenues Offered at Three Times

Market Context

This hospitality in Independence, OH is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 1997. It has been on the market for 67 days. Compare it against other hospitality listings for sale in Independence, OH — <a href="/search/sale/hospitality/ohio/independence">view the full market</a>.

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