1520 10th Ave N - Hospitality FOR SALE


Humboldt, IA 50548
$1,200,000 USD
952-932-9987
1520 10th Ave N, Humboldt, IA for Sale
$1,200,000 USD
Hospitality - FOR SALE
1/7
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1520 10th Ave N
Humboldt, IA 50548


HIGHLIGHTS

  • Conveniently situated with immediate access to US-169 providing strong connectivity to regional demand drivers
  • Current ownership has completed a variety of property improvements leaving minimal expected change of ownership PIP
  • Currently owned through an absentee ownership model

OVERVIEW

Conveniently situated with immediate access to US 169, the property benefits from strong connectivity to regional demand drivers. Current ownership has completed a variety of recent capital improvements and renovations, resulting in minimal expected change of ownership PIP requirements and reducing near term capital needs for a new investor. The hotel is operated by an out of state ownership group, creating significant upside through a more hands on management approach that can drive increased operational efficiencies, top line revenue growth, and enhanced overall profitability. Revenues have continued to increase year over year, supported by consistently strong guest reviews across major online platforms. Additionally, a new owner has the opportunity to convert one existing guest room into on site living quarters, reducing off site housing costs. Overall, this represents an excellent opportunity to acquire a renovated, well performing asset without the burden of significant brand required improvements.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$83 USD /SF

# OF ROOMS

34

PRICE/ROOM

$35,294 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Super 8 by Wyndham Humboldt

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1996

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

C

APN/PARCEL ID

000001002226008

ASK ABOUT THIS PROPERTY

Gregory TimmTimm & Associates, IncMore Info
952-932-9987

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Gregory TimmTimm & Associates, IncMore Info
952-932-9987

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.