7230 Engle Rd, Middleburg Heights, OH 44130-3427
- Hotels
- 152,588 SF
- 6.98 lot acres
Current Use by Public Records
- Hotels
Property Details for 7230 Engle Rd
- Year built
- 1975
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 6.98 lot acres
- Zone code
- MS
- Property type
- Hotels
- APN
- 373-03-007
- APU
- 37303007
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 24, 2026 | — | Yk Engle Rd LLC | — | Deed · related | $79.5M · Barclays Capital Real Estate INC |
| Jan 6, 2026 | — | Yk Engle Rd LLC | — | Deed · related | $738k · The Middlefield Banking Co |
| Jan 21, 2022 | $8,750,000 | Yk Engle Rd LLC | Toledo Inns INC | Limited Warranty Deed | — |
| Sep 10, 2018 | — | Toledo Inns INC | — | Grant Deed · related | $5.3M · Cortland Svgs & Bkng |
| Apr 30, 2004 | $1,855,000 | Toledo Inns INC | Meristar Sub 7g LLC | Grant Deed | $2.3M · Cortland Savings Bank |
| Oct 21, 1999 | — | Ohio State | Equistar Cleveland Co LLC | Grant Deed · related | — |
| — | — | Toledo Inns INC | — | Deed Of Trust · related | $2M · Cortland Savings Bank |
| — | — | Toledo Inns INC | — | Deed Of Trust · related | $600k · Cortland Savings Bank |
Description
This exceptional 238-key Crowne Plaza hotel, situated at 7230 Engle Rd, Middleburg Heights, OH 44130, presents a compelling investment opportunity. Boasting 172,450 square feet across five floors in a single building, this fee-simple property sits on a 6.98-acre lot and benefits from a permitted MS zoning designation. Built in 1978 and extensively renovated in 2008, 2016, 2018, and 2023, the hotel offers modernized rooms and suites, upgraded amenities, and a strong operational performance. Key features include an on-site restaurant and bar (Tavolo 72), a state-of-the-art fitness center, an indoor pool, and over 16,000 square feet of meeting and event space. Its strategic location less than 3 miles from Cleveland Hopkins International Airport and convenient access to Interstate 71 ensures high demand from business and leisure travelers. The property's proximity to major employers like NASA Glenn Research Center, University Hospitals Parma Medical Center, and General Motors Metal Fabrication Division further strengthens its market position. The hotel currently enjoys a 53% occupancy rate, generating a Net Operating Income (NOI) of $1,720,456 and an 11.87% cap rate. The asking price is $14,500,000, translating to $84.08 per square foot. This investment offers a blend of immediate returns and significant long-term growth potential, enhanced by its affiliation with the globally recognized Crowne Plaza brand and IHG's marketing and loyalty programs. The property's robust operational performance, diverse revenue streams, and experienced management team contribute to its financial stability. This is a 1031 exchange eligible property.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $6,705,000
- ML approach
- $8,100,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $12,320,000
- 6.5%
- $11,375,000
- 7%
- $10,560,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $11,144,000
Market price range: $7.60M - $26.9M -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $13,575,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Middleburg Heights
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.8257
- Latitude
- 41.3698
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
