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Quality Inn Coralville 209 W 9th St 55 Room Hotel Coralville, IA 52241 $2,950,000 ($53,636/Room)
INVESTMENT HIGHLIGHTS
- Turnkey Opportunity: Minimal PIP Expectation Allows Buyers To Step In With Little To No Immediate Capital Outlay.
- Prime Location Near University of Iowa: Located just minutes away from the university, the hotel benefits from steady demand driven by university even
- Owner-Operator Opportunity: Hands-on Ownership Can Immediately Benefit From Operational Efficiencies.
EXECUTIVE SUMMARY
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.
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.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
| Price | $2,950,000 | Building Size | 24,896 SF |
| Price Per Room | $53,636 | No. Rooms | 55 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1989/2022 |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 0.93 AC | ||
| Zoning | LDR | ||
| Price | $2,950,000 |
| Price Per Room | $53,636 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.93 AC |
| Building Size | 24,896 SF |
| No. Rooms | 55 |
| No. Stories | 2 |
| Year Built/Renovated | 1989/2022 |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | LDR |
AMENITIES
- Business Center
- Fitness Center
- Pool
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 8 | $81.00 | - |
| Guest Room | 47 | $73.00 | - |
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PROPERTY TAXES
| Parcel Number | 1005152001 | Improvements Assessment | $1,756,600 |
| Land Assessment | $486,100 | Total Assessment | $2,242,700 |
PROPERTY TAXES
Parcel Number
1005152001
Land Assessment
$486,100
Improvements Assessment
$1,756,600
Total Assessment
$2,242,700
CONTACTS
-
Jake Erickson -
Jared Plamann -
Brock Banken -
P&E Hospitality | Marcus & Millichap Midwest
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Quality Inn Coralville | 209 W 9th St
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