Des Moines area hotels do not come on the market often. This recently renovated Econo Lodge in the suburb of Urbandale features a solid increase in both ADR and RevPar in 2016. Revenues continue to increase, making this hotel ready to cash flow for an owner operator. Priced at less than 3X the T-12 RR!

Executive Summary

This Econo Lodge is located in the Des Moines suburb of Urbandale. Des Moines, the capital of Iowa, is a growing city with many demand generators.  Drake University, Des Moines University, Adventureland USA, the State Capital & Civic Center are all close by.  Also, annual events such as the Iowa State Fair, World Pork Expo & Iowa State Wrestling Championships draw a huge amount of traffic to the area.  About 20% of the business is done through extended stay customers.  The hotel is priced under 3X the T-12 RR of $475,000!

This 59-room, 2-story, exterior corridor property, has been recently renovated.  NEW case goods, bedding, drapes, art work and exterior paint were completed in 2016.  80% of the guestrooms have new beds and 60% have new PTAC units.    There is also a very nice Manager’s Quarters on site.

In closing, this Econo Lodge provides increasing revenue and cash flow in a very strong hospitality market.  For these reasons it would be worth making a trip to Des Moines.

Property Details

Address
10841 Douglas Ave, Urbandale, IA 50322
Price
$1,350,000 
Rooms
59 
Price Per Key
$22,881 
Property Type
Limited Service 
Revenue
$475,000 T-12 
Website
 

Hotel Description

  • Des Moines location w/2+ acres of land
  • NEW Exterior Paint
  • NEW Beds – 80% of guestrooms
  • NEW Bedding, Drapes, Artwork
  • NEW PTAC units – 60% of guestrooms
  • Newer Case Goods & Knockdown Walls
  • Flat Screen TV’s
  • Microwave & Mini Fridge in all guestrooms
  • Seasonal Outdoor Pool
  • Manager’s Quarters

Contact a Broker

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Dave Jones

KS
Phone: 913-499-4725