MergerPlace

Hotel Real Estate

Iowa


  • Asking Price: $235,000
  • Gross Income: $70,000
  • Cash Flow: $37,000
  • Real Estate: $235,000
  • Inventory: Not Disclosed
  • FF&E: Not Disclosed
  • Listing ID: #203868
  • Established: 1902
  • Employees: 1 FT/2 PT

Business Description

This is a great opportunity to own the hotel Real Estate only. The hotel currently has 16 total rooms to rent. There are 11 daily rooms and 5 apartments with longer term tenants. The hotel has a large and a small banquet facility a fully equipped bar and restaurant that are not included in the sale of the hotel real estate however, they can be purchased separately. The seller will entertain a lease back arrangement for the bar and restaurant from the successful buyer.


Business Details

Primary Business Category: Services - Other Services
Location: Iowa

Company Information

Year Established: 1902
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 1 FT/2 PT

Financial Information

Asking Price: $235,000
Gross Revenue: $70,000
Cash Flow: $37,000
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. The rental properties have been updated and hotel has several of the rooms remodeled. Hotel has 16 rooms with 11 rooms for daily rental along with 5 rooms currently used as apartments. Property also has a commercial lease unit hosting a consumer service business.

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 The successful owner will be well served to have strong management and marketing skills. This business gives you the opportunity to work with the public providing a great customer experience.

Contact Business Seller

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Business Listed By:

Michael Rooney

Murphy Business Brokers