$105,000 Price Reduction & Cap Rate of 10+% !  Cedar Rapids is the second largest city in Iowa, with a vibrant business sector, multiple colleges and many demand generators.

Executive Summary

$105,000 Price Reduction!!

Cedar Rapids, Iowa – the second largest city in the state – is in one of the leading manufacturing regions in the United States.  It is also one of the leading bio-processing and food ingredient centers in North America.  Cedar Rapids is home to almost 300 different manufacturing plants and two dozen Fortune 500 companies, including Rockwell Collins, AEGON, General Mills, Cargill, Penford, Quaker Oats, Archer Daniels Midland and Nordstrom. Please follow this link for additional information on Cedar Rapids:

http://www.cedar-rapids.org/discover_cedar_rapids/about_us/recognition_and_rankings.php

The Quality Inn North is located a short distance from I-380, the interstate corridor that divides Cedar Rapids and connects to I-80 to the south. A significant amount of the new development, in north Cedar Rapids, is found along 1st Avenue.  In addition to Cedar Rapids having a solid manufacturing and agricultural background, demand generators include Coe College (1400 enrollment) and Mount Mercy University (1800 enrollment), both 4-year liberal arts institutions.  Lindale Mall, US Cellular Center and the Tuma Soccer Complex are also located a short distance from the hotel.

This very well-maintained Quality Inn is a 2017 Choice Hotel Gold Award Winner recipient.  Many improvements have been made to the hotel, including newer case goods, carpet, paint, LED flat screen TV’s, beds and top of bedding. Guests also appreciate the updated breakfast area and lobby, plus the indoor pool.

If you are looking for a well-maintained hotel in a growing city with increasing revenue and net income, the Quality Inn North should be on your list of hotels to explore.

Property Details

Address
4747 1st Ave SE, Cedar Rapids, IA 52402
Price
$1,995,000 
Rooms
49 
Price Per Key
$40,714 
Property Type
Limited Service 
Revenue
Call or Email for CA 
Website
 

Hotel Description

  • $105,000 Price Reduction
  • Cap Rate of 10%+
  • Offered at $40,700/room – well below replacement cost
  • 3-Story w/Elevator
  • Change of Ownership PIP available – very reasonable!
  • 2017 Choice Gold Award Winner recipient
  • Suites
  • Newer LED flat screens, beds, top of bedding
  • Newer carpet & paint throughout
  • Newer case goods and headboards
  • Exterior paint – 2017
  • NEW shut-off valve system
  • NEW hot water system
  • Microwave and mini fridge in all guestrooms
  • Fitness room
  • Indoor swimming pool
  • 100% non-smoking

Contact a Broker

Dave Jones Headshot

Dave Jones

KS
Phone: 913-499-4725