Mahesh Pampati - Commercial Real Estate Showcase

Mahesh Pampati Property Listings
Mahesh Pampati
(630) 440-0766

35000 Curtis Boulevard - Radisson

Eastlake, OH 44095-4019 - Northeast Submarket

Property Type:Hospitality Number of Rooms:148 Status:Existing Year Built:1979
Stories:5 Building Size:94,094 SF Land Area:5.5 AC (239,580 SF)
For Sale Price:$5,900,000 Price/Room:$39,865 Cap Rate:11.70 %

Parking:2.66 Parking Spaces / 1,000 SF

Sale Notes:
The Radisson Hotel is a 148 room full service hotel with over 15,000 sq/ft of available banquet space with a bar and restaurant. The property is one of the largest hotels in Lake County and represents a tremendous redevelopment opportunities with renovation and rebranding. The property is Starwood/Marriott approved and plans are in place to upbrand the property and drive revenue and Marriott brand loyalty. STR reports show strong demand for the area but this property needs a significant renovation to attract large groups and corporate customers. The property is priced well below replacement cost of $20 Million and even after renovations it is still more than 50% below replacement cost. Cap rate is pro forma based with Starwood affiliation and renovation.

Mahesh Pampati
Mahesh Pampati
(630) 440-0766

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