RICHLAND, OHIO 200+ KEY WYNDHAM DAYS INN & SUITES READY FOR ITS NEW OWNER

$5,200,000
Sale
SKU: GPA-1017
Property type: INDOOR CORRIDOR
Rooms
200
Bedrooms
200

The space

  • Year Built: 1999

Amenities

  • 1500 GUEST ATRIUM
  • ATRIUM
  • BANQUET FACILITIES
  • Billiard room
  • BILLIARDS
  • Dining room
  • GAME ROOM
  • Garage / Parking
  • HOUSING NEARBY
  • KID'S PLAYGROUND
  • Laundry
  • LOUNGE
  • MEETING ROOMS
  • MINIATURE GOLF
  • OFF FREEWAY EXIT
  • PING PONG
  • Playground
  • RESTAURANT
  • Swimming pool
  • TRUCK PARKING
  • WHIRLPOOL

Description

LOCATED IN THE CLEVELAND SUBURBS, HERE’S A 200+ KEY WYNDHAM DAYS INN & SUITES READY FOR ITS NEW OWNER
PURCHASE PRICE IS FIRM PER THE SELLER AT $5,200,000 
THE SELLER HAS PROVIDED FINANCIALS UPFRONT
EVERYTHING WILL BE PROVIDED IN FORMAL DUE DILIGENCE
BUYERS NEED TO BE FINANCIALLY QUALIFIED
THIS WYNDHAM DAYS INN & SUITES (THREE STARS) IS LOCATED IN THE CLEVELAND SUBURB OF RICHFIELD. ADDRESS IS 4742 BRECKSVILLE ROAD, 44286
THIS 1999 BUILT INDOOR CORRIDOR HOTEL OF 216 KEYS WITH TWO SUITES…….RENOVATED IN 2010
RICHFIELD IS 20 MILES SOUTH OF DOWNTOWN CLEVELAND
SELLERS ARE SELLING TO RAISE PRIVATE MONEY FOR ANOTHER ACQUISITION OR TWO
THIS FOUR STORY HOTEL IS IN A REALLY GOOD LOCATION, CLOSE TO INTERSTATE 77, THE OHIO TURNPIKE AND THE CUYOHOGA NATIONAL VALLEY PARK
THIS HOTEL IS LOADED WITH GUEST AMENTITIES: A 42,000 SQUARE FOOT ATRIUM, HOUSING THE INDOOR POOL, WHIRLPOOL, MINIATURE GOLF, BILLIARDS, A KID’S PLAYGROUND PING PONG, A GAME ROOM, ETC
THE HOTEL HAS BANQUET FACILITIES, 13 MEETING ROOMS THAT CAN ACCOMMODATE .OVER 1,500 GUESTS. A BAR, LOUNGE AND A RESTAURANT
THE HOTEL OFFERS PARKING FOR BUSES, TRUCKS AS WELL AS THE GUEST’S CARS AND RV’S
THE CURRENT DAILY RATE VARIES IN THE $80-$100 PER NIGHT RANGE
THE HOTEL IS ABOUT 20 MILES FROM CLEVELAND’S HOPKINS INTERNATIONAL AIRPORT….THE HOTEL OFFERS SHUTTLE SERVICE TO THE AIRPORT FOR A FEE
ALL OF THE MAJOR SPORTS VENUES FOR FOOTBALL, BASKETBALL AND BASEBALL ARE VERY CONVENIENT TO THE HOTEL
THE SELLER HAS PROVIDED A PROPRIETARY P&L ()11/1/2017 TO 10/31/2018) TO SHOW THE BUYER TRANSPARENCY, PLEASE SEE THE ATTACHMENT
THE GROSS ANNUAL INCOME IS $1,958,475.08, THE ANNUAL EXPENSES $1,470,636.73, THE NET OPERATING INCOME $398,492.92……CAP RATE IS 7.7%
THIS IS AN OFF THE MARKET ASSET SALE, MUST STAY OFF THE MARKET, PLEASE DO NOT LET THIS GO VIRAL
 
DEAR BUYER, THIS IS A PRE-DUE DILIGENCE PACKAGE AND NOT A FORMAL DUE DILIGENCE PACKAGE. ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT AND THE BUYER OPENS UP THE CONTRACTED ESCROW TRUST ACCOUNT WITH THEIR CONTRACTED EARNEST MONEY DEPOSIT, THE SELLER WILL THEN PROVIDE THE BUYER WITH THE P&Ls, RENT ROLLS, TENANT’S LEASES AND ANY VENDOR LEASES THAT EXIST ON THE PORTFOLIO. THE BUYER TO PROVIDE AN INVESTMENT BIO WITH COMMERCIAL ASSETS IN THE BUYER’S INVESTMENT PORTFOLIO
TO MOVE FORWARD, THE BUYER OR THE SELLER (DEPENDING ON WHO WILL BE PAYING FOR THE REAL ESTATE COMMISSIONS) TO SIGN THE ASSET SPECIFIC MASTER FEE AGREEMENT, THE BUYER TO PROVIDE AN ASSET SPECIFIC LETTER OF INTENT TO INCLUDE THE FIRM PURCHASE PRICE, DUE DILIGENCE PERIOD, THE CLOSE OF ESCROW DATE AND THE AMOUNT OF EARNEST MONEY THAT THE BUYER WILL ESCROW ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT. THE BUYER TO PROVIDE A BIO OF COMMERCIAL ASSETS IN THE BUYER’S INVESTMENT PORTFOLIO. THE BUYER TO PROVIDE A VERIFIABLE PROOF OF FUNDS IN THE FORM OF A BANK OR FUND STATEMENT. PLEASE NO TRANSACTIONAL FUNDING.
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Contact the Agent

Bill Michailidis

Broker
Tel
800-270-5163
Skype
billmichailidis_2
Has nearly 37 years of, operations and leadership experience  as CEO in several corporations. Over 29 years as founder and in a broad range of industries including multi-unit restaurants, Gas station, convenience store and hospitality. Most recently, Mr. Michailidis formed Global Petro Advisers, a limited liability brokerage, consulting and marketing, firm to facilitate financial transactions in the retail gas stations, convenience stores, energy and petroleum distribution industries.