When I was researching hotels the closest ones were Super 8, La Qunita Inn and Motel 6. All had very bad reviews. I stayed at Candlewood Suites which is off of Ball Park Way. It is about 15 minutes away. Clean and very nice hotel. Great reviews.
Candlewood suites is the most decent nearby hotel.
The immediate Verizon Theatre area is not good for hotels. Recommend going a few miles west near I-30 and 360. There are several good hotel option in that part of Arlington.
Do a google search and you will run wirh knowledge.
Courtyard Marriott
There are several. I'd recommend reserving one weeks in advance!
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