NO RESERVE AUCTION ends on December 13th 2023 | 311 E Highland Rd
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NO RESERVE AUCTION ends on December 13th 2023 311 E Highland Rd
121 Room Hotel Macedonia, OH 44056 For Sale
Investment Highlights
- COURT ORDERED REAL ESTATE ONLINE-ONLY AUCTION
- Prime Location 2.28 Acres
- NO RESERVE AUCTION
- Excellent Freeway Access
Executive Summary
NO RESERVE AUCTION ending on December 13th, 2023 @ 3:00 pm EST
By virtue of an order of sale issued from the Court of Common Pleas, Summit Co., OH, case #CV2021072067, we will offer for sale at public online-only auction the following located at: 311 E. HIGHLAND ROAD MACEDONIA, OH 44056
ONLINE BIDDING Starts: November 29th @ 9:00 AM Ending on: December 13th, 2023 @ 3:00 PM EST.
FEATURING: Prime location of 2.28 +/- acres with a 32,832 sq ft 3 story building last used as an independent 121 room hotel. Excellent visibility on St Rt 8 with proximity to the city of Cleveland, Cleveland Hopkins International Airport, the city of Akron and other major freeways including I-77, I-480, I-71 and I-80. Currently zoned B-4 Highway Business District. Buyer is responsible for conducting their own due diligence. All information contained herein was derived from sources believed to be correct but not guaranteed.
FOR COMPLETE DETAILS & TO BID, GO TO: www.georgeromanauctioneers.com
NOTE: DO NOT TRESPASS ON THE PROPERTY OR DISTURB THE CURRENT OPERATIONS AND OCCUPANTS.
Sheriff’s appraised value: $1,675,000.00.
TERMS: The first sale resulted in a no bid/no sale. This property shall be offered without regard to the minimum opening bid requirement. A 6% Buyer’s premium will be added to the final bid to determine the purchase price. The purchaser shall be responsible for costs, allowances and taxes that the proceeds of the sale are insufficient to cover. Failure to comply with the bid process will result in contempt charges and forfeiture of entire deposit plus damages allowed by law. Deposit in the form of a wire transfer for $10,000.00 within 24 hours of the auction’s ending made payable to: In Title Agency. Buyer to pay all closing costs. Balance in full within (30) days from the confirmation of sale. SALE SUBJECT TO COURT CONFIRMATION. Property sold in As Is condition. Brokers recognized with 48 hour pre-registration.
By virtue of an order of sale issued from the Court of Common Pleas, Summit Co., OH, case #CV2021072067, we will offer for sale at public online-only auction the following located at: 311 E. HIGHLAND ROAD MACEDONIA, OH 44056
ONLINE BIDDING Starts: November 29th @ 9:00 AM Ending on: December 13th, 2023 @ 3:00 PM EST.
FEATURING: Prime location of 2.28 +/- acres with a 32,832 sq ft 3 story building last used as an independent 121 room hotel. Excellent visibility on St Rt 8 with proximity to the city of Cleveland, Cleveland Hopkins International Airport, the city of Akron and other major freeways including I-77, I-480, I-71 and I-80. Currently zoned B-4 Highway Business District. Buyer is responsible for conducting their own due diligence. All information contained herein was derived from sources believed to be correct but not guaranteed.
FOR COMPLETE DETAILS & TO BID, GO TO: www.georgeromanauctioneers.com
NOTE: DO NOT TRESPASS ON THE PROPERTY OR DISTURB THE CURRENT OPERATIONS AND OCCUPANTS.
Sheriff’s appraised value: $1,675,000.00.
TERMS: The first sale resulted in a no bid/no sale. This property shall be offered without regard to the minimum opening bid requirement. A 6% Buyer’s premium will be added to the final bid to determine the purchase price. The purchaser shall be responsible for costs, allowances and taxes that the proceeds of the sale are insufficient to cover. Failure to comply with the bid process will result in contempt charges and forfeiture of entire deposit plus damages allowed by law. Deposit in the form of a wire transfer for $10,000.00 within 24 hours of the auction’s ending made payable to: In Title Agency. Buyer to pay all closing costs. Balance in full within (30) days from the confirmation of sale. SALE SUBJECT TO COURT CONFIRMATION. Property sold in As Is condition. Brokers recognized with 48 hour pre-registration.
Property Facts Under Contract
| Sale Type | Investment | No. Rooms | 121 |
| Sale Conditions | Distress Sale | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1990/2004 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 3.05/1,000 SF |
| Lot Size | 2.28 AC | Corridor | Exterior |
| Building Size | 32,832 SF |
| Sale Type | Investment |
| Sale Conditions | Distress Sale |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.28 AC |
| Building Size | 32,832 SF |
| No. Rooms | 121 |
| No. Stories | 3 |
| Year Built/Renovated | 1990/2004 |
| Tenancy | Single |
| Parking Ratio | 3.05/1,000 SF |
| Corridor | Exterior |
Amenities
- High Speed Internet Access
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 121 | $51.00 | - |
PROPERTY TAXES
| Parcel Number | 33-03808 | Improvements Assessment | $699,370 |
| Land Assessment | $119,060 | Total Assessment | $818,430 |
PROPERTY TAXES
Parcel Number
33-03808
Land Assessment
$119,060
Improvements Assessment
$699,370
Total Assessment
$818,430
zoning
| Zoning Code | B-4 (Highway Business District.) |
| B-4 (Highway Business District.) |
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NO RESERVE AUCTION ends on December 13th 2023 | 311 E Highland Rd
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