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5555 Brecksville Rd
Independence, OH 44131

$500,000

Hotel For Sale  •  28,910 Sq Ft

Property Details

  • Property Type Hotel
  • Total Building Size 28,910 Sq Ft
  • Lot Size 2.19 ac
  • Building Class C
  • Year Built 1963
  • Tenancy Single
  • Zoning light indus, Independence
24 Transit Score
27 Walk Score

Description

Online Foreclosure Auction starting at $500,000. Bidding ends on Wed. Jan. 22 at Noon. See OhioRealEstateAuctions dotcom for full info. 71 Room Hotel. Closed and secured. 5 story building. Outdoor pool. Easy access to I-77 just South of Downtown Cleveland. Zoning has been changed to light industrial. The photos on this site are from 3 years ago. The property is in rough shape and has roof and mold issues. Copper thieves have also stolen a fair amount of copper. Make your own inspection prior to bidding. Buying AS IS. The succesful bidder will have up to 6 months to obtain a zoning change back to hospitality if that is the desired use and an additional 30 days to close the transaction. $10,000 of the required deposit will be non-refundable no matter the outcome of the zoning appeal. 
Basic Terms:
Sells subject to Plaintiff's approval and approval from the Cuyahoga Co. Common Pleas Court. This is a receiver's sale. $50,000 downpayment will be due by 5pm the day of Auction which will become your deposit. $10,000 of that amount will be non refundable no matter the result of the zoning appeal. The real estate is sold As Is with no contingencies. All inspections must be done prior to Auction. Close within 30 days of zoning approval or notification that the zoning will be approved. A 10% buyer's premium will be added to the high bid to obtain the final contract selling price. Short tax proration. Buyer pays all closing costs. Receiver's deed given at closing with no liens or back taxes.

Highlights

Foreclosure Sale via Receiver

Major Tenants

Tenant SF Occupied Lease End Date
Americas Best Value Inn 28,910 SF

Public Transportation

AirportDriveWalkDistance
Cleveland Hopkins International Airport 24 min - 13.2 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Barry Baker 937-581-3037 Ohio Real Estate Auctions
Barry Baker 937-581-3037 Ohio Real Estate Auctions