Property Overview

  • Room Count 132 units
  • Corridors Interior
  • Year Built 1973
  • Buildings 1 building
  • Stories 4 stories
  • Parcel Size 6.0252 acres
  • Construction Concrete
  • HVAC Individual PTAC units
  • Roof Flat (installed 2023)
  • Elevators 3
  • Sprinklers Wet
  • Amenities Indoor pool, exercise room, banquet halls (2), meeting rooms (4)

Investment Highlights

  • — 132 unit property offered fee-simple and unencumbered of management. Property offers multiple amenities including leased on-site restaurant, four meeting rooms, and two banquet halls.
  • — Partial renovation completed in 2021, encompassing ballrooms, hallways, meeting space, public restrooms, and exterior water lines. Roof was replaced in 2023 and includes 10-year transferable warranty.
  • — Located in the fast-growing Cleveland metropolitan area. Property is well-positioned to capture increased traffic to Cuyahoga County – total visits to Cuyahoga County increased 12% from 2021 to 2022, outpacing US domestic (11%) and Ohio (6%) visitation growth over the same period.
  • — Located in the Mentor submarket, which is home to several corporate headquarters including Lake Health, Steris Corporation, and Avery Dennison.

Financial Performance

Revenue $4,934,094
Occupancy 76.4%
ADR $123.74
RevPAR $94.51