This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1111 Lakeside Ave E
Cleveland, OH 44114
Hospitality Property For Sale
·
311,414 SF
INVESTMENT HIGHLIGHTS
- Receivership sale for the 379-key Doubletree by Hilton Downtown Cleveland Lakeside
- Property will trade at a steep discount to the total loan exposure of ~$37MM
- Fee Simple interest is offered unencumbered of debt and management
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 17 |
| Property Subtype | Hotel | Year Built/Renovated | 1973/2009 |
| Building Class | B | Parking Ratio | 1/1,000 SF |
| Lot Size | 1.74 AC | Corridor | Interior |
| Building Size | 311,414 SF | ||
| Zoning | SI-C6 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.74 AC |
| Building Size | 311,414 SF |
| No. Stories | 17 |
| Year Built/Renovated | 1973/2009 |
| Parking Ratio | 1/1,000 SF |
| Corridor | Interior |
| Zoning | SI-C6 |
AMENITIES
- Business Center
- Fitness Center
- Restaurant
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Multi-Room Suites
- Digital key
ABOUT 1111 LAKESIDE AVE E , CLEVELAND, OH 44114
Walking distance to the Rock N Roll Hall of Fame – host to 600,000 annual visitors and Cleveland’s top tourist destination Walking distance to all three downtown professional sports venues – Rocket Mortgage Fieldhouse, Cleveland Browns Stadium, and Progressive Field – cumulatively accounting for ~220 annual home games Walking distance to the newly renovated 410,000 SF Huntington Convention Center – which saw a 29% increase in convention center booking in 2023 over 2022 The Cleveland hotel market remains a unique counter-cyclical investment with YOY visitors gains of +9% and 2024 forecasts anticipated to outpace 2019 record of 20 million visitors Optimal time to be investing in downtown Cleveland amidst several large-scale redevelopments, including the $3.5B Riverfront Masterplan set to transform 35-acres of downtown waterfront Planning is well underway for the $3B multi-phase redevelopment of Cleveland Hopkins International Airport intended to expand visitor capacity and airline routes
PROPERTY TAXES
| Parcel Number | 102-01-010 | Improvements Assessment | $3,708,495 |
| Land Assessment | $1,592,920 | Total Assessment | $5,301,415 |
PROPERTY TAXES
