3775 Park East Dr - Hospitality FOR SALE
Beachwood, OH 44122 |
3775 Park East Dr
Beachwood, OH 44122
HIGHLIGHTS
- Fee simple interest in the 216-room, institutionally owned and third-party managed Embassy Suites by Hilton Cleveland Beachwood, OH.
- Property offered for sale in the October 2nd auction event via Ten- X.
- Upper upscale, all-suite Hilton asset offered unencumbered by management or debt at a discount to replacement cost.
- Ability to retain the Hilton flag for a new long-term license upon completing the change of ownership PIP.
- Strong upside transitioning from institutional ownership and a national third-party operator to an investor with strong operating economies of scale.
- Opportunity to better position the asset amongst the competitive set upon completion of the PIP.
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Embassy Suites by Hilton Cleveland Beachwood
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
187425
STORIES
4
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
1989
PARKING SPACES
227
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
U-9
APN/PARCEL ID
742-28-001,742-28-007
