711 Commercial Ave - Hospitality FOR SALE


Eagle Grove, IA 50533
$1,299,000 USD
515-851-2422
711 Commercial Ave, Eagle Grove, IA for Sale
$1,299,000 USD
Hospitality - FOR SALE
1/20
null | Request Cap Rate

711 Commercial Ave
Eagle Grove, IA 50533


HIGHLIGHTS

  • Heavy traffic State Highway (main throughfare through town)

OVERVIEW

2019 Construction in excellent condition. Needs professional management to reach full potential. Site is 2.72 acres with 20 Double Queen Guest Rooms (1 ADA), 5 King Suites (1 is ADA), and 7 King Guest Rooms (1 ADA). Two stories with elevator. 2021 Gross $465,110 2022 Gross $612,521 2023 Gross $452,837 2024 Gross $437,588 2025 Gross $345,821 In-house manager retired in late 2022 and local shareholders have been managing since then as numbers reflect. Buyer should obtain new management to pursue 2022 numbers or greater. New in 2026 are local partnerships for fitness center/recreation access, as well as golf course, coffee, and restaurant discounts for guests. Hotel was constructed in 2019 by local investors and nonprofits to provide an amenity to the community. No franchise, royalty, or management agreements are in place. Change of use from hotel within next three years would trigger payback of a hotel/motel tax agreement with City of Eagle Grove. Upon expiration, this incentive is forgiven.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$69 USD /SF

# OF ROOMS

32

PRICE/ROOM

$40,594 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Grove Inn and Suites

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2019

PARKING SPACES

66

LAND DETAILS

LAND ACRES

2.72 AC

LAND SF

118,483 SF

ZONING

Commercial

APN/PARCEL ID

09-34-126-022

ASK ABOUT THIS PROPERTY

Philip JohnsonPrivate InvestorMore Info
515-851-2422

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Philip JohnsonPrivate InvestorMore Info
515-851-2422

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