I-80 location less than 30 minutes east of Des Moines and close to many attractions.  Original owner/developer that is absentee.  2007 build with elevator and priced to sell at less than $31,000/key!  Underperforming and a great fit for an on-site owner.

Executive Summary

This 2007 build Microtel Inn & Suites is located on heavily traveled I-80, less than 30 minutes from the state capital of Des Moines, IA.  With excellent interstate visibility, it captures I-80 traffic as well as those travelers coming to the area to visit Adventureland Resort, Living History Farms (a 500-acre interactive outdoor history museum), Prairie Meadows Casino & Racetrack and the Outlets of Des Moines.  Events that bring in significant traffic to area include the following:

  • Iowa State Fair
  • Iowa Speedway (Indy race care track) – Newton, IA
  • Knoxville Raceway (Sprint car race track) – Knoxville, IA
  • World Pork Expo
  • Tulip Festival – Pella, IA
  • Iowa State Wrestling Championships

Being 39 units, it is ideal for an onsite owner, or for placing an onsite partner.  The original developer/owner is absentee and the operations are in need of onsite management.  High employee turnover and a lack of marketing and revenue management provides a buyer with a solid opportunity to increase revenue.

If you are looking for an owner/operator hotel with upside – and close to a metropolitan area – then this listing deserves your attention!

 

Property Details

Address
11000 Federal Ave, Colfax, IA 50054
Price
$1,195,000 
Rooms
39 
Price Per Key
$30,641 
Property Type
Extended Stay - Interstate 
Revenue
Call or Email for CA 
Website
 

Hotel Description

  • I-80 location with outstanding visibility
  • Less than 30 minutes from Des Moines (state capital)
  • 2007 build – – 2-story with elevator
  • Original developer/owner (absentee)
  • Newer hot water heaters
  • Newer paint – common areas
  • Suites with wet area & separate sitting areas
  • Flat screen TV’s
  • Digital Amana PTAC units throughout

Contact a Broker

Dave Jones

13000 W 87th St. Pkwy, Suite 108
Lenexa, KS 66215
Phone: 913-499-4725