4277 150Th StCleveland, OH 44135

Property Details for 4277 150Th St

Year built

1970

Construction

STEEL FRAME

Lot size

8.36 AC

Property size (Sq ft)

29,665 SF

Zone code

GR

Property type

Hotels

APN

023-02-005

APU

2302005

Description

This exceptional 8.36-acre property, located at 4277 W 150th St, Cleveland, OH 44135, presents a prime redevelopment opportunity. Currently configured as a 372-key Class B hotel built in 1970/1972 with 200,000 square feet, it offers significant potential for conversion into a thriving multifamily or senior living community. The property boasts a convenient location near Cleveland Hopkins International Airport, easily accessible from I-71 and West 150th Street, and just 15 minutes from Downtown Cleveland. The existing zoning is General Retail, with a variance approved, allowing for various housing developments. The City of Cleveland has expressed support for such conversions, making this a particularly attractive investment. The hotel features existing amenities including a fitness center, indoor pool, business center, complimentary airport shuttle service, and over 14,000 square feet of meeting/event space, which could be repurposed for the new development. Offered at $17,500,000 fee simple, this is a unique chance to capitalize on a high-demand market and transform a significant asset. The property's size and existing infrastructure provide a solid foundation for a successful redevelopment project. This is a compelling investment opportunity for those seeking a high-return project in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $6,061,637

  6.5%

  $5,595,358

  7%

  $5,195,689

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,520,930

  Geo Method

  $6,520,930

• Alternative Use

  Use

  Valuation

  Residential

  $6,108,504

  Hospitality

  $5,595,358

  Educational

  $4,655,272

  Medical

  $4,815,374

  Retail

  $7,241,534

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4377

Longitude

-81.7992

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].