7230 Engle RdMiddleburg Heights, OH 44130

This exceptional 238-key Crowne Plaza hotel, situated at 7230 Engle Rd, Middleburg Heights, OH 44130, presents a compelling investment opportunity. Boasting 172,450 square feet across five floors in a single building, this fee-simple property sits on a 6.98-acre lot and benefits from a permitted MS zoning designation. Built in 1978 and extensively renovated in 2008, 2016, 2018, and 2023, the hotel offers modernized rooms and suites, upgraded amenities, and a strong operational performance. Key features include an on-site restaurant and bar (Tavolo 72), a state-of-the-art fitness center, an indoor pool, and over 16,000 square feet of meeting and event space. Its strategic location less than 3 miles from Cleveland Hopkins International Airport and convenient access to Interstate 71 ensures high demand from business and leisure travelers. The property's proximity to major employers like NASA Glenn Research Center, University Hospitals Parma Medical Center, and General Motors Metal Fabrication Division further strengthens its market position. The hotel currently enjoys a 53% occupancy rate, generating a Net Operating Income (NOI) of $1,720,456 and an 11.87% cap rate. The asking price is $14,500,000, translating to $84.08 per square foot. This investment offers a blend of immediate returns and significant long-term growth potential, enhanced by its affiliation with the globally recognized Crowne Plaza brand and IHG's marketing and loyalty programs. The property's robust operational performance, diverse revenue streams, and experienced management team contribute to its financial stability. This is a 1031 exchange eligible property.