209 W 9th St - Hospitality FOR SALE


Coralville, IA 52241
$3,225,000 USD
952-852-9700
209 W 9th St, Coralville, IA for Sale
$3,225,000 USD
Hospitality - FOR SALE
1/9
null | Request Cap Rate

209 W 9th St
Coralville, IA 52241


HIGHLIGHTS

  • Turnkey Opportunity: Minimal PIP Expectation Allows Buyers To Step In With Little To No Immediate Capital Outlay.
  • Owner-Operator Opportunity: Hands-on Ownership Can Immediately Benefit From Operational Efficiencies.
  • Prime Location Near University of Iowa: Located just minutes away from the university, the hotel benefits from steady demand driven by university even

OVERVIEW

Marcus & Millichap is pleased to present the exclusive offering of the 55-room Quality Inn in Coralville, Iowa. This two-story hotel offers a compelling opportunity in a high-demand corridor adjacent to Iowa City. With some flexibility with the Choice Hotels franchise agreement, the asset provides brand stability and strong positioning in the midscale segment while winning their competitive set battle. The property has undergone significant renovations, with approximately $250,000 invested in 2022 to complete the required PIP. Upgrades include repainting of hallways and door frames, full carpet replacement, a new exterior monument sign, and a new storage shed. The hotel features stair access at both ends of the building and provides solid operational efficiency for a hands-on owner-operator or regional portfolio group. Located in a rapidly growing area, Coralville is part of the Iowa City metropolitan area and benefits from a diverse economy driven by healthcare, education, and tourism. Major demand drivers include the University of Iowa, UI Hospitals & Clinics, and the Xtream Arena, a $50 million multi-purpose venue hosting professional sports and events. The local population has grown nearly 10 percent since 2020, outpacing the national average, and new developments continue to enhance the area’s long-term demand profile. This investment represents a rare chance to acquire a stabilized, branded asset in one of Iowa’s most resilient and expanding submarkets.

FOR SALE DETAILS

PRICE

$3,225,000 USD

PRICE/SF

$130 USD /SF

# OF ROOMS

55

PRICE/ROOM

$58,636 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn Coralville

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1989

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

LDR

APN/PARCEL ID

1005152001

ASK ABOUT THIS PROPERTY

Brock BankenMarcus & MillichapMore Info
952-852-9700

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Brock BankenMarcus & MillichapMore Info
952-852-9700

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