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Ariel Broadway Hotel 301 Broadway 56 Room Hotel Lorain, OH 44052 $4,100,000 ($73,214/Room)
Investment Highlights
- Absentee, non-hotelier ownership
- Multiple branding opportunities (soft-brand affiliation or independent boutique positioning)
- Two restaurant spaces previously leased to local operators are available to re-lease
- Revenue up 40% YTD & OCC at just 40% of comp set — indicating major upside
- Steps from Lake Erie, with a one-of-a-kind rooftop event space and a 4,585 SF Lakeview event room, both overlooking the lake
- Federal Opportunity Zone designation
Executive Summary
Ariel Broadway Hotel is a 56-room boutique hotel directly across from Lake Erie in Lorain, Ohio, with a one-of-a-kind rooftop event space, a 4,585 SF Lakeview event room, and two ground-floor restaurant spaces previously leased to local operators that are available to re-lease. The property has been owned and managed by a non-hotelier with occupancy running significantly below the market.
Revenue is up 40% year-to-date through April 2026 with some minor corrections with revenue management. For an owner-operator, there is significant upside potential with multiple revenue channels: leasing the two restaurants back to operators, and potential brand affiliation and stronger sales and oversight. The property sits within a Federal Opportunity Zone, with a 50-acre lakefront redevelopment, new amphitheater, and additional entertainment venues opening adjacent to the hotel in 2026.
• Absentee, non-hotelier ownership
• Revenue up 40% YTD
• Occupancy at just 40% of comp set — indicating major upside
• Steps from Lake Erie, with a one-of-a-kind rooftop event space and a 4,585 SF Lakeview event room
• Two restaurant spaces previously leased to local operators are available to re-lease
• Multiple branding opportunities (soft-brand affiliation or independent boutique positioning)
• Federal Opportunity Zone designation
• Centennial year in 2026, with major lakefront redevelopment, a new amphitheater, and a go-kart facility opening nearby
Please do not contact the property directly. For more information and to schedule a tour, contact Ted Holmes after signing a CA.
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946
Scott Reid, OH - BRKP.2020001224
Broker of Record
ParaSell, Inc.
Ted Holmes, OK -
#155078
Listing Broker
HotelBrokerOne
Bruce Holmes, OK -
#071875
Listing Broker
HotelBrokerOne
Revenue is up 40% year-to-date through April 2026 with some minor corrections with revenue management. For an owner-operator, there is significant upside potential with multiple revenue channels: leasing the two restaurants back to operators, and potential brand affiliation and stronger sales and oversight. The property sits within a Federal Opportunity Zone, with a 50-acre lakefront redevelopment, new amphitheater, and additional entertainment venues opening adjacent to the hotel in 2026.
• Absentee, non-hotelier ownership
• Revenue up 40% YTD
• Occupancy at just 40% of comp set — indicating major upside
• Steps from Lake Erie, with a one-of-a-kind rooftop event space and a 4,585 SF Lakeview event room
• Two restaurant spaces previously leased to local operators are available to re-lease
• Multiple branding opportunities (soft-brand affiliation or independent boutique positioning)
• Federal Opportunity Zone designation
• Centennial year in 2026, with major lakefront redevelopment, a new amphitheater, and a go-kart facility opening nearby
Please do not contact the property directly. For more information and to schedule a tour, contact Ted Holmes after signing a CA.
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946
Scott Reid, OH - BRKP.2020001224
Broker of Record
ParaSell, Inc.
Ted Holmes, OK -
#155078
Listing Broker
HotelBrokerOne
Bruce Holmes, OK -
#071875
Listing Broker
HotelBrokerOne
Property Facts
| Price | $4,100,000 | Building Size | 60,899 SF |
| Price Per Room | $73,214 | No. Rooms | 56 |
| Sale Type | Investment | No. Stories | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1926/2020 |
| Property Subtype | Hotel | Parking Ratio | 1.27/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 1.14 AC | Opportunity Zone |
Yes
|
| Zoning | Comm | ||
| Price | $4,100,000 |
| Price Per Room | $73,214 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.14 AC |
| Building Size | 60,899 SF |
| No. Rooms | 56 |
| No. Stories | 4 |
| Year Built/Renovated | 1926/2020 |
| Parking Ratio | 1.27/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | Comm |
Amenities
- Business Center
- Fitness Center
- Pool
- Restaurant
- On-Site Retail
- High Speed Internet Access
- On-Site Bar
- Boutique/Lifestyle Hotel
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 6 | $170.00 | - |
| Guest Room | 50 | $150.00 | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $698,282 | |
| Land Assessment | $66,777 | Total Assessment | $765,058 |
Property Taxes
Parcel Numbers
Land Assessment
$66,777
Improvements Assessment
$698,282
Total Assessment
$765,058
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Ariel Broadway Hotel | 301 Broadway
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