INVESTMENT HIGHLIGHTS
• Fee simple interest in 143-unit, interior corridor property in desirable Eastlake suburb of Cleveland.
• Meticulously renovated - current owners did a $5 million conversion PIP in 2019 and have spent another $400k in CapEx since then. Recent updates include new water heaters, fire panel work, and various back of house upgrades.
• Strong revenue and cash flow: 2025 room revenue of $3,117,517 (total revenue $3,435,326; NOI $1,414,067).
• Amenities include onsite restaurant and banquet hall, which generated $286,394 in revenue in 2025.
• Upside opportunity: despite steady cash flow, property is ranked 4 of 4 for occupancy, 3 of 4 for ADR, and 3 of 4 for RevPAR within its STR competitive set.
• Asking price: $11,900,000 (11.9% cap rate).

MARKET HIGHLIGHTS
• Located 20 minutes from downtown Cleveland: property benefits from strong and growing local tourism and leisure traffic. In 2024, Cleveland area tourism generated over $10B in economic activity. Hotels in the Cleveland area average a 60.2% occupancy and $13358 ADR.
• Prominent signage and visibility along OH-2. Approximately 69,596 vehicles passed the property per day in 2024, a 3% increase from 2023.

Highlights:

Room Inventory Description:

Address: 35000 Curtis Boulevard, Eastlake, OH 44095
Room Count: 143 units
Year Built: 1976
Buildings: 1 building
Stories: 5 stories
Amenities: Fitness center, restaurant, event space, indoor pool
Parcel Size: 6.53 acres
Construction: Concrete
HVAC: Individual PTAC units
Elevators: 4, including 1 freight elevator
Fire Safety: Sprinklers

Common area amenities:

Source of Business:

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