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Hotel-Motel

Comfort Inn & Suites Streetsboro

9172 Market Square Dr, Streetsboro, OH 44241

Listing Price: $3,200,000

Cap Rate
1.40%
Number of Rooms
60
Gross SF
35,784
Price/Room
$53,333
Price/Gross SF
$89.43
Year Built
1999

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 60-room Comfort Inn & Suites located in Streetsboro, Ohio. Streetsboro is part of the Cleveland - Akron, Ohio Combined Metropolitan Statistical Area, a region with a population of over 3.5 million people. The property is a three-story, limited-service hotel located directly off Interstate 80 and Interstate 480, the two main thoroughfares of Streetsboro. The area is a major industrial hub for the State of Ohio, containing major manufacturing centers for large corporations such as: L'Oreal USA, Jo-Ann Stores, Inc., and McMaster-Carr, amongst others. In addition, Streetsboro is an easily accessible market, and the property is located within close proximity to a variety of other demand generators including: Kent State University, Downtown Akron, and Dix Stadium, amongst others. The Comfort Inn & Suites offers investors the opportunity to acquire a recently renovated property with minimal Property Improvement Plan (PIP) costs in an established market.

Investment Highlights

  • Hotel has 60 Operating Rooms with Six Empty Bays that can be Converted to Six Additional Rooms or a Combination of Rooms and Manager Suites
  • Minimal Property Improvement Plan (PIP) Costs Expected for a New Owner as the Hotel was Recently Renovated. The Hotel Underwent Approximately $450,000 in Capital Improvements Completed by 2018.
  • Management Upside Opportunity; The Current Owner Sold the Hotel with Seller Financing in August 2015 and Took the Property Back into Possession in May 2019.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Hotel-Motel

Comfort Inn & Suites Streetsboro

Listing Price: $3,200,000

Cap Rate
1.40%
Number of Rooms
60
Gross SF
35,784
Price/Room
$53,333
Price/Gross SF
$89.43
Year Built
1999

Investment Highlights

  • Hotel has 60 Operating Rooms with Six Empty Bays that can be Converted to Six Additional Rooms or a Combination of Rooms and Manager Suites
  • Minimal Property Improvement Plan (PIP) Costs Expected for a New Owner as the Hotel was Recently Renovated. The Hotel Underwent Approximately $450,000 in Capital Improvements Completed by 2018.
  • Management Upside Opportunity; The Current Owner Sold the Hotel with Seller Financing in August 2015 and Took the Property Back into Possession in May 2019.

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 60-room Comfort Inn & Suites located in Streetsboro, Ohio. Streetsboro is part of the Cleveland - Akron, Ohio Combined Metropolitan Statistical Area, a region with a population of over 3.5 million people. The property is a three-story, limited-service hotel located directly off Interstate 80 and Interstate 480, the two main thoroughfares of Streetsboro. The area is a major industrial hub for the State of Ohio, containing major manufacturing centers for large corporations such as: L'Oreal USA, Jo-Ann Stores, Inc., and McMaster-Carr, amongst others. In addition, Streetsboro is an easily accessible market, and the property is located within close proximity to a variety of other demand generators including: Kent State University, Downtown Akron, and Dix Stadium, amongst others. The Comfort Inn & Suites offers investors the opportunity to acquire a recently renovated property with minimal Property Improvement Plan (PIP) costs in an established market.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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