= Required Field.

Already a Member?

Email Address:

Password:

Re-Enter Password:

First Name:

Last Name:

Country:

Zip/Postal Code:

Ext.

Day Phone:

Yes, I want to receive LoopNet's weekly newsletter "LoopNews" and information about LoopNet promotions and special offers.

No Thanks.

By clicking the button above, you are indicating that you have read, understood, and agree to LoopNet's Terms and Conditions.

We will NOT share your email address.
View Our Privacy Policy.

Welcome to LoopNet! Check out the listing below or search over 725,000 other listings.

Select a Property Type

You may enter a US or Canadian location in the following formats:

Zip Code
City, State
State

For additional search options, go to Advanced Search Advanced Search Advanced Search.

e.g. Los Angeles, CA or 91016

Advanced Search

Browse More Listings in Hotel & Motel For Sale, Independence, OH or Ohio

Hotel / Motel For Sale

THE SKYLINE HOTEL (CLEVELAND)

5300 Rockside Road, Independence, OH 44131

Price:
$9,000,000
No. Rooms:
179
Building Size:
115,040 SF
Price/Room:
$50,279.33
Property Type:
Hotel & Motel
Property Sub-type:
Full Service
Property Use Type:
Investment
Cap Rate:
13.08%
Average Occupancy:
45%
Year Built:
1974
Lot Size:
6.50 AC
Find Out More...

Last Verified 11/6/2009 Listing ID 16221856

Highlights

Great Highway Visibility and Access

Complete Remodel in 2006 and 2007

Description

This five story hotel underwent a complete renovation in 2006 and 2007. The renovation included new carpeting, wall covering, floor tiles, furnishings and decorations in the lobby, guest rooms, meeting rooms and dining areas.

This property is located on the Interstate 77 and Interstate 480 exchange, approximately 8 miles south of downtown Cleveland and 12 miles from Cleveland Hopkins International Airport. There is approximately 4 million sq. ft. of office space in a one mile radius of the hotel. Located adjacent from the hotel is a 150,000 sq. ft. Cleveland Clinic facility. The area's major employers and corporate users include Goodrich, American Greetings, Honeywell, PNC/National City Bank, IBM, Microsoft and more.

Financial Summary

Room Mix Information

Proforma
Effective Gross Income
$5,139,879
Net Operating Income
$1,177,580
Pre-Tax Cash Flow
$1,177,580

Description	No. Rooms
Club King	31
Standard King	44
Jacuzzi - King/Sleeper	4
Club Double	7
Standard Double/Double	85	$0

Map of 5300 Rockside Road, Independence, OH 44131

Hide Map

Contact Listing Broker to find out more details.

Presented by

Request additional information

Contact Listing Broker

Diana Parent (260) 489-8500

Tom Hamm (203) 968-1800

Victor S. Voinovich, Sr. (888) 236-1435

Track changes to this property: Watch This Property
Share this listing: Send to Friend; Link to This Listing

Link
Copy the link above and share via email or IM.; Embed This on Your Web Site; Share on Facebook; Share on LinkedIn; Share on Twitter
Additional Options: Print Listing; View Map; Demographics; Research Price; Get Financing

Created 5/5/2009

Additional Information for 5300 Rockside Road, Independence, OH 44131

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

Comparable Properties for 5300 Rockside Road, Independence, OH 44131

Nearby Recently Sold Hotel & Motel propertiesSearch all recently sold commercial real estate

Full Service
Sold 4Q 2005
Full Service
Sold 1Q 2005

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Embed this Listing on Your Website

Hotel & Motel Property For Sale - THE SKYLINE HOTEL (CLEVELAND)

5300 Rockside Road, Independence, OH, 44131