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1111 Lakeside Ave E
Cleveland, OH 44114

Price Upon Request

Hotel For Sale  •  120,445 SF

Property Details

  • Property Type Hotel
  • Total Building Size 120,445 SF
  • Lot Size 1.74 AC
  • Building Class B
  • Year Built 1973
  • Tenancy Multiple
  • Zoning SI-C6
76 Transit Score
89 Walk Score

Description 

Walking distance to the Rock N Roll Hall of Fame – host to 600,000 annual visitors and Cleveland’s top tourist destination
Walking distance to all three downtown professional sports venues – Rocket Mortgage Fieldhouse, Cleveland Browns Stadium, and Progressive Field  – cumulatively accounting for ~220 annual home games
Walking distance to the newly renovated 410,000 SF Huntington Convention Center – which saw a 29% increase in convention center booking in 2023 over 2022
The Cleveland hotel market remains a unique counter-cyclical investment with YOY visitors gains of +9% and 2024 forecasts anticipated to outpace 2019 record of 20 million visitors
Optimal time to be investing in downtown Cleveland amidst several large-scale redevelopments, including the $3.5B Riverfront Masterplan set to transform 35-acres of downtown waterfront
Planning is well underway for the $3B multi-phase redevelopment of Cleveland Hopkins International Airport intended to expand visitor capacity and airline routes

Highlights

Receivership sale for the 379-key Doubletree by Hilton Downtown Cleveland Lakeside
Fee Simple interest is offered unencumbered of debt and management
Property will trade at a steep discount to the total loan exposure of ~$37MM

Amenities

  • Business Center
  • Fitness Center
  • Pool
  • Restaurant
  • Shuttle Service
  • On-Site Retail
  • Meeting Event Space

Public Transportation

Commuter RailDriveWalkDistance
Cleveland Lakefront Station (Blue Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid), Green Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid)) 5 min 9 min 0.5 mi
Rockside (National Park Scenic Railway - Cuyahoga Valley Scenic Railroad) 18 min - 9.9 mi
Transit/SubwayDriveWalkDistance
Tower City - Public Square (Blue Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid), Green Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid), Red Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid)) 3 min 15 min 0.8 mi
AirportDriveWalkDistance
Cleveland-Hopkins International 24 min - 14.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Covered
Included in Rent: Yes
Jacki Bubis 312-248-9716 Paramount Lodging Advisors
Jacki Bubis 312-248-9716 Paramount Lodging Advisors