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Holiday Inn Express Cedar Rapids (Collins Rd) 1230 Collins Rd NE 83 Room Hotel Cedar Rapids, IA 52402 $6,000,000 ($72,289/Room)
INVESTMENT HIGHLIGHTS
- Recent Formula Blue Renovation
- 83 Non-smoking Guestrooms
- Three-story, Interior Corridor
- Stable, strong market place
EXECUTIVE SUMMARY
The Holiday Inn Express presents an exciting opportunity to own one of the most renowned and esteemed brands in the hospitality industry. The hotel recently underwent a comprehensive Formula Blue renovation, securing its position with a new 10-year franchise agreement. A new owner should anticipate a light soft goods PIP as part of the change-of-ownership requirements.
The Cedar Rapids market features a diverse range of demand drivers, including manufacturing, food processing, agriculture, biotechnology, and medical technology. With the Holiday Inn Express brand being highly sought after, this acquisition represents a reliable and promising investment opportunity in the hospitality sector.
The Cedar Rapids market features a diverse range of demand drivers, including manufacturing, food processing, agriculture, biotechnology, and medical technology. With the Holiday Inn Express brand being highly sought after, this acquisition represents a reliable and promising investment opportunity in the hospitality sector.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $6,000,000 | Building Size | 41,120 SF |
| Price Per Room | $72,289 | No. Rooms | 83 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1996/2017 |
| Property Subtype | Hotel | Parking Ratio | 1.36/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 1.69 AC | ||
| Zoning | S-MC - Suburban Mixed Use Community Center | ||
| Price | $6,000,000 |
| Price Per Room | $72,289 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.69 AC |
| Building Size | 41,120 SF |
| No. Rooms | 83 |
| No. Stories | 3 |
| Year Built/Renovated | 1996/2017 |
| Parking Ratio | 1.36/1,000 SF |
| Corridor | Interior |
| Zoning | S-MC - Suburban Mixed Use Community Center |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $150.00 | - |
| Guest Room | 81 | $134.00 | - |
PROPERTY TAXES
| Parcel Number | 14032-52005-00000 | Improvements Assessment | $3,577,600 |
| Land Assessment | $676,400 | Total Assessment | $4,254,000 |
PROPERTY TAXES
Parcel Number
14032-52005-00000
Land Assessment
$676,400
Improvements Assessment
$3,577,600
Total Assessment
$4,254,000
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Holiday Inn Express Cedar Rapids (Collins Rd) | 1230 Collins Rd NE
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