614-450-2510
301 Broadway, Lorain, OH for Sale
Hospitality - FOR SALE
1/139
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301 Broadway
Lorain, OH 44052


OVERVIEW

OwnerLand Realty is excited to present an exceptional and time-sensitive investment opportunity: the Ariel Broadway Hotel, located at 301 Broadway Avenue, Lorain, Ohio 44052. This property, built in 1926 and recently renovated in 2019/20, offers significant potential for high returns, especially with the upcoming peak season. Key Highlights: • Motivated Seller: The seller is highly motivated and is calling for the highest and best offers, demonstrating a strong desire to close this deal quickly. • Seller Financing: The seller is open to carrying some financing, providing flexible options for potential buyers. • Wyndham Partnership: Wyndham Hotels is offering a compelling deal, including potential key money, for the property to join their Trademark brand. This partnership will significantly enhance the hotel's marketability and profitability. • Property Details: o Total Hotel SF: 59,700 sq. ft. o 56 Guest Rooms: Including 5 two-room suites, 3 over-sized suites, 39 doubles (Queen), and 9 Kings. o Additional Amenities: Indoor heated pool, fitness room, 5 retail stores, 2 restaurant spaces, 2 event spaces, and 1 office space. o 4 Floors. o Parcel IDs: 0201004101001, 0201004101088, 0201004101002 Investment Potential: The combination of a motivated seller, potential seller financing, a strong brand partnership with Wyndham, and the property's existing amenities creates a unique and lucrative investment opportunity. The necessary PIP upgrades will further enhance the property's value and appeal, ensuring long-term profitability. This is an urgent and exclusive offer. Do not miss out on this exceptional opportunity to acquire a high-potential hotel in a prime location. We encourage you to contact us immediately to discuss this opportunity further and to submit your highest and best offer. We are available to provide additional information, answer any questions, and facilitate property tours.

FOR SALE DETAILS

PRICE

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# OF ROOMS

55

CAP RATE

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TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ariel Broadway Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1926

PARKING SPACES

64

LAND DETAILS

LAND ACRES

1.14 AC

LAND SF

49,650 SF

ZONING

Comm

APN/PARCEL ID

02-01-004-101-001,02-01-004-101-088

ASK ABOUT THIS PROPERTY

Priyanshu AdathakkarRed One RealtyMore Info
614-450-2510

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Priyanshu AdathakkarRed One RealtyMore Info
614-450-2510

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.