MergerPlace

Hotel Restaurant Restaurant Banquet Hall

Iowa (Clayton)


  • Asking Price: $359,000
  • Gross Income: $380,950
  • Cash Flow: $24,035
  • Real Estate: $235,000
  • Inventory: Not Disclosed
  • FF&E: $55,000
  • Listing ID: #198614
  • Established: 1902
  • Employees: 2 FT/12 PT

Business Description

This is a great opportunity to own a hotel and restaurant serving the local community and visitors to the area. This business is the only hotel in the area and has consistently high occupancy. Restaurant is open for breakfast, lunch and dinner. Bar is open in the afternoon to serve the community and the guest of the hotel. Banquet facilities are a great space to host rehearsal dinners or class reunions.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Iowa
County: Clayton

Company Information

Year Established: 1902
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 2 FT/12 PT

Financial Information

Asking Price: $359,000
Gross Revenue: $380,950
Cash Flow: $24,035
FF&E: $55,000
Real Estate: $235,000
Seller Financing Available: No

Property Information

Facilities:

This a great opportunity to own a building that is listed on the National Register of Historical places in Iowa. Building has been renovated but still holds all the charm of a historical building. Restaurant, banquet hall, bar and rental properties have been updated and hotel has several of the rooms remodeled. Hotel has 11 rooms for daily rental along with 5 apartments that are leased. Property also hosts a leased rental unit.

Growth & expansion opportunities:

Hotel could be listed on Airbnb along with additional marketing to the festivals held in the area. Banquet facilities are underutilized at the moment but could be a good source of additional income.

Competition:

This hotel is the only hotel in the area. Hotel offers restaurant and bar services for its guests setting it apart from most hotel in a large area.

Reason for selling:

Owner is retiring after 27 years.

Support & Training:

Will train for 2 weeks @ no cost. New owner should have management skill and restaurant skills would be helpful.

Contact Business Seller

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Business Listed By:

Michael Rooney

Murphy Business Brokers