Specialty Real Estate
9172 Market Square Drive Streetsboro, OH 44241
Details & Description
Price: $3,200,000
    Hotel has 60 Operating Rooms with Six Empty Bays that can be Converted to Six Additional Rooms or a Combination of Rooms and Manager Suites.Minimal Property Improvement Plan (PIP) Costs Expected for a New Owner as the Hotel was Recently Renovated. The Hotel Underwent Approximately $450,000 in Capital Improvements Completed by 2018.Management Upside Opportunity; The Current Owner Sold the Hotel with Seller Financing in August 2015 and Took the Property Back into Possession in May 2019.Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 60-room Comfort Inn & Suites located in Streetsboro, Ohio. Streetsboro is part of the Cleveland - Akron, Ohio Combined Metropolitan Statistical Area, a region with a population of over 3.5 million people. The property is a three-story, limited-service hotel located directly off Interstate 80 and Interstate 480, the two main thoroughfares of Streetsboro. The area is a major industrial hub for the State of Ohio, containing major manufacturing centers for large corporations such as: L'Oreal USA, Jo-Ann Stores, Inc., and McMaster-Carr, amongst others. In addition, Streetsboro is an easily accessible market, and the property is located within close proximity to a variety of other demand generators including: Kent State University, Downtown Akron, and Dix Stadium, amongst others. The Comfort Inn & Suites offers investors the opportunity to acquire a recently renovated property with minimal Property Improvement Plan (PIP) costs in an established market.
    Listing Agents
    David Greenburg

    O: 954-245-3449
    david.greenberg@marcusmillichap.com
    Gabriel Shamay
    Marcus & Millichap
    O: 954-245-3430
    gabriel.shamay@marcusmillichap.com
    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    9172 Market Square Drive

    Streetsboro, OH 44241

    Comfort Inn Suites Streetsboro

    Listing ID: 275628
    • 9172 Market Square Drive Streetsboro, OH 44241 | for Sale | Photo 1
    • 9172 Market Square Drive Streetsboro, OH 44241 | for Sale | Photo 2
    • 9172 Market Square Drive Streetsboro, OH 44241 | for Sale | Photo 3
    9172 Market Square Drive | for Sale | Thumbnail 1
    9172 Market Square Drive | for Sale | Thumbnail 2
    9172 Market Square Drive | for Sale | Thumbnail 3
    Building Size: 35,784 SF
    Lot Size: --
    Land Size: --
    Building $/SF: $89.43
    Land $/SF:
    Price
    $3,200,000
    Description

    Hotel has 60 Operating Rooms with Six Empty Bays that can be Converted to Six Additional Rooms or a Combination of Rooms and Manager Suites.

    Minimal Property Improvement Plan (PIP) Costs Expected for a New Owner as the Hotel was Recently Renovated. The Hotel Underwent Approximately $450,000 in Capital Improvements Completed by 2018.

    Management Upside Opportunity; The Current Owner Sold the Hotel with Seller Financing in August 2015 and Took the Property Back into Possession in May 2019.

    Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 60-room Comfort Inn & Suites located in Streetsboro, Ohio. Streetsboro is part of the Cleveland - Akron, Ohio Combined Metropolitan Statistical Area, a region with a population of over 3.5 million people. The property is a three-story, limited-service hotel located directly off Interstate 80 and Interstate 480, the two main thoroughfares of Streetsboro. The area is a major industrial hub for the State of Ohio, containing major manufacturing centers for large corporations such as: L'Oreal USA, Jo-Ann Stores, Inc., and McMaster-Carr, amongst others. In addition, Streetsboro is an easily accessible market, and the property is located within close proximity to a variety of other demand generators including: Kent State University, Downtown Akron, and Dix Stadium, amongst others. The Comfort Inn & Suites offers investors the opportunity to acquire a recently renovated property with minimal Property Improvement Plan (PIP) costs in an established market.

    Points of Interest & Demographic Radii

    Points of Interest
    Demographic Radii
    POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
     
    Akron History of Specialty Real Estate for Sale

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    Streetsboro Area Market Trends

    Listing Demographics for 9172 Market Square Drive Streetsboro, OH 44241

    All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

    1-Mile 3-Miles 5-Miles
    Total Population2,41819,27354,092
    Population Median Age404041
    Population by Age0-9 Yrs311 (12%)2162 (11%)5939 (10%)
    10-19 Yrs205 (8%)2383 (12%)7551 (13%)
    20-29 Yrs398 (16%)2616 (13%)5999 (11%)
    30-39 Yrs383 (15%)2500 (12%)5978 (11%)
    40-49 Yrs231 (9%)2204 (11%)7046 (13%)
    50-59 Yrs337 (13%)2980 (15%)8734 (16%)
    60-69 Yrs254 (10%)2366 (12%)6855 (12%)
    70+ Yrs299 (12%)2062 (10%)5991 (11%)
    Median HH Income$67,754$71,823$87,447
    Total Household Income< 24K128 (13%)848 (11%)2027 (9%)
    25-49K219 (23%)1655 (21%)3385 (16%)
    50-74K188 (20%)1473 (19%)3391 (16%)
    75-99K146 (15%)1210 (16%)2817 (13%)
    100-199K239 (25%)1894 (25%)6170 (30%)
    200K+19 (2%)476 (6%)2621 (12%)
    Highest Education LevelNo Diploma1169261897
    Diploma or GED66540068265
    Some College33525476107
    Assoc. Degree13310512711
    Bachelors Degree216283310684
    Higher Degree15219107772
    Total Housing Units1,0037,93821,164
    --Owner-Occupied6845,71716,832
    --Renter-Occupied2541,8393,578
    Owner-Occupied Values< 100K7010361925
    100-199K47921694718
    200-299K7913505013
    300-399K446883005
    400-499K91701075
    500K+33041096
    Total Working Age Population1,96315,73143,641
    In Work Force1,37510,63229,280
    Not In Work Force5875,09914,361
    Workforce Employed1,32710,31328,209
    Workforce Unemployed483191,053
    Civlian Workforce1,37510,63229,262
    Military Workforce0018
    Total Households9387,55620,410
    Family Households6535,12414,946
    Non-Family Households2852,4315,464
    Married Couple4344,01312,498
    Other Family2191,1112,447
    Married w/Child1311,4644,938
    Single Male w/Child36133327
    Single Female w/Child77392903

    Population Change Last Two Decades - Plus Projection

    2000%2010%2020%2030
    Ohio11,353,140+211,536,504011,574,870011,615,100
    Cuyahoga County1,393,978-81,280,122-61,209,550-51,154,210
    Portage County152,061+6161,4190161,410-2158,930
    Summit County542,8990541,781-1534,150-1528,990

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    Common Questions and Answers

    What is the asking price for 9172 Market Square Drive in Streetsboro?
    The asking price for 9172 Market Square Drive is $3,200,000
    What is the building size of this Specialty property in Streetsboro, OH?
    The size of the building/unit at 9172 Market Square Drive in Streetsboro is 35,784 square feet
    What kind of Specialty is the propery at 9172 Market Square Drive?
    The property at 9172 Market Square Drive Streetsboro, OH 44241 is listed as a Hotel/Motel/Resort Specialty property
    What is the population within 1 mile of 9172 Market Square Drive in Streetsboro?
    The population within 1 mile of 9172 Market Square Drive Streetsboro, OH 44241 is 2,418 people.
    Who do I contact for questions about 9172 Market Square Drive?
    You should contact the listing agent, David Greenburg, for any details regarding this commercial listing.

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    Closest Commercial Airports

    Airport Distance (mi)
    Cleveland Hopkins International Airport (CLE) 28
    Pittsburgh International Airport (PIT) 78
    Erie International Tom Ridge Field (ERI) 84
    Price
    $3,200,000
    Listing Agent
    Listing Co-Agent
    David Greenburg - CRE Agent at Marcus & Millichap

    Gabriel Shamay

    Independent Agent
    More listings from David Greenburg
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