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200 6th Street
Coralville, IA 52241 ·

103 Rooms · Hotel & Motel For Sale

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Baymont Inn & Suites

Price N/A Average Daily Rate $67
No. Rooms 103 RevPAR $35
Building Size 48,631 SF No. Stories 3
Property Type Hotel & Motel Year Built 2000
Property Sub-type Economy/Limited Service Corridor Interior
Property Use Type Investment Lot Size 2.30 AC
Cap Rate 9.06%
Listing ID: 15463915 Date Created: 12/03/2007 Last Updated: 04/22/2008

Description

NOTE: ALL HOTEL TOURS MUST BE ARRANGED THROUGH MARCUS & MILLICHAP

103 room, interior corridor, limited service hotel. Constructed in 2000. Converted to Baymont in 2005 - all PIP items completed.

Located within minutes of University of Iowa.

Coralville and adjoining Iowa City have a population of 139,000. The hotel is within minutes driving time from the University of Iowa (30,000 students), the VA Medical Center and the University of Iowa Hospital. The hotel enjoys premium rates from football weekends and other school functions. The hotel is used for extended stay by patients undergoing medical care at the nearby hospitals.

Highlights

  • Located within minutes of the University of Iowa
  • Premium rates for football weekends and other University functions.
  • Current owner has taken passive role in operation of hotel. Opportunity for hands on operator to increase revenues and reduce expenses
  • Converted to Baymont Inn & Suites in 2005 (PIP completed)

Research

200 6th Street, Coralville, IA 52241 (Johnson County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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