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- LoopNet Team
3245 Southgate Pl SW
Cedar Rapids, IA 52404
Economy Inn & Suites · Hospitality Property For Sale
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18,228 SF
PROPERTY FACTS
AMENITIES
- High Speed Internet Access
- Public Access Wifi
ABOUT 3245 SOUTHGATE PL SW , CEDAR RAPIDS, IA 52404
Very motivated seller! Excellent Value-add opportunity! 2018 revenue up 10% from 2017! Any and all offers considered. The Economy Inn & Suites is a 2-story interior corridor building comprising of 40 rooms. Recent renovations include new carpet, wall coverings, furnishings, and bedding. In-room amenities include: mini-fridge, microwave, iron/ironing board, HBO service, and flat-panel HDTV’s, and workstation. Additionally, suites feature a couch with a pull-out bed, coffee table, and single recliner chair. The Economy Inn & Suites also offers complimentary wi-fi and continental breakfast w/ fresh hot waffles. Property highlights include an indoor heated pool, 16-camera security system with remote viewing, and 3 exterior entrances. Located right off Interstate-380, nearby revenue generators include: Hawkeye Downs Speedway (1.2 miles), Cedar Rapids Museum of Art (3 miles), U.S. Cellular Center (3.2 miles), Kirkwood Community College (3.8 miles), Eastern Iowa Airport (CID) (5 miles), Lindale Mall (7.4 miles), Cornell College (14.9 miles), and plenty of local bars/pubs and nightlife. Local companies include the Fortune-500 Rockwell Collins, CRST, Quaker Oats, General Mills, and Toyota Financial. Cedar Rapids is one of the largest cities for corn processing and is the economic-hub of Iowa with a metro population of 257,000. 2017 gross: $322,000 2018 gross: $358,000 (up 10% from 2017) Seller will send financials after a phone call, he can be reached at the number below. Please call Danny Patel at (224) 522-9695 or Jay Patel at (224) 875-0116 during business hours for more information
PROPERTY TAXES
| Parcel Number | 19042-27001-00000 | Improvements Assessment | $962,600 |
| Land Assessment | $184,800 | Total Assessment | $1,147,400 |
PROPERTY TAXES
