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Hotel / Midscale

RAMADA CLEVELAND INDEPENDENCE | JUST OFF I-77

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5300 ROCKSIDE RD, INDEPENDENCE, OH 44131
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PROPERTY INFORMATION
Asset Type: Property
Primary Property Type: Hotel
Primary Sub-Type: Hotel
Rooms: 178
Building Size (Sq. Ft.): 122,915
Year Built/Renovated: 1974/2007
Lot Size (Acres): 6.53
Parking Count: 250
Valuable five-story, 178-room hotel exceptionally situated over a spacious 6.53-acre lot with ample parking right off I-77 in Independence, Ohio.
Strategically located 1 mile from the major I-77 and I-480 highway interchange with desirable accessibility 8.5 miles south of Downtown Cleveland.
Incredible value-add opportunity to acquire an ideally positioned hotel within a thriving submarket, seeing a year-over-year RevPAR increase at 17.6%.

Errol D'SouzaLaurel Real Estate CompanyOH Lic # BRK2002016764Broker Contact(740) 965-1966
Sophy CardenasCoStar GroupSales Engineer(949) 861-5662
Property Id4502448
Event Item2025-04-07

Property Information

Valuable five-story, 178-room hotel exceptionally situated over a spacious 6.53-acre lot with ample parking right off I-77 in Independence, Ohio.
Strategically located 1 mile from the major I-77 and I-480 highway interchange with desirable accessibility 8.5 miles south of Downtown Cleveland.
Incredible value-add opportunity to acquire an ideally positioned hotel within a thriving submarket, seeing a year-over-year RevPAR increase at 17.6%.
Features desirable on-site amenities, including meeting rooms, ballrooms, a restaurant, an indoor and outdoor pool, a fitness center, and more.
Hotel offers shuttle service to the CLE Airport which is close to Great Lakes Science Center and Huntington Bank Field, home to the Cleveland Browns.
Within walking distance of Cleveland Clinic, Independence’s largest employer in the surrounding area, with a generous employee count of about 57,000.
Primary Property Type
Hotel
Type of Ownership
Fee Simple
Year Renovated
2007
Floors
5
Lot Size (Acres)
6.53
Starting Bid
$1,500,000
Building Size (Sq. Ft.)
122,915
Parking Ratio
2.2
Common Amenities
Business Center, Fitness Center, Pool, Restaurant, On-Site Retail, On-Site Bar, Meeting Event Space, Public Access Wifi
Rooms
178
Primary Sub-Type
Hotel
Year Built
1974
Building Class
Class B
Assessor's Parcel Number
562-32-004, 562-32-008
Property ID
4502448
Parking Count
250
Zoning Designation
U-6A
Unit Amenities
High Speed Internet Access
Floor Area Ratio
0.43
Primary Property Type
Hotel
Primary Sub-Type
Hotel
Type of Ownership
Fee Simple
Year Built
1974
Year Renovated
2007
Building Class
Class B
Floors
5
Assessor's Parcel Number
562-32-004, 562-32-008
Lot Size (Acres)
6.53
Property ID
4502448
Starting Bid
$1,500,000
Parking Count
250
Building Size (Sq. Ft.)
122,915
Zoning Designation
U-6A
Parking Ratio
2.2
Unit Amenities
High Speed Internet Access
Common Amenities
Business Center, Fitness Center, Pool, Restaurant, On-Site Retail, On-Site Bar, Meeting Event Space, Public Access Wifi
Floor Area Ratio
0.43
Rooms
178

Detailed Description

Property tours are available by appointment only. Please contact the broker to schedule. Prominently located off of Interstate 77 in a suburb of Cleveland, OH, the Ramada Cleveland Independence features 178 rooms, versatile meeting and event spaces, and ample surface parking over an expansive 6.53-acre lot. The well-maintained hotel offers guests and visitors six meeting rooms, two ballrooms, a leased on-site restaurant, an indoor pool, a fitness center, a business center, an outdoor picnic area, and more. Advantageously situated near the major I-77/I-480 highway interchange, the Ramada Cleveland Independence features excellent visibility within the Independence business district and is just 8.5 miles south of downtown Cleveland. The Ramada Cleveland Independence is surrounded by a dense population of over 206,000 residents and a daytime workforce of nearly 100,000 employees within a 5-mile radius. The area’s major employers include The Cleveland Clinic, American Greetings, Honeywell, JPMorgan Chase, IBM, and more. The Cleveland Clinic—Independence Family Health Center is within walking distance from the property and employs approximately 57,000 individuals, making it Independence’s largest employer. The hotel benefits from its positioning within the Cleveland CBD/Independence submarket, which has seen a 17.6% year-over-year RevPAR increase, surpassing the market-wide average at 11.9%. Investors can find tremendous value in the Ramada Cleveland Independence by further enhancing the property with up-to-date, modern finishes.

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