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Baymont by Wyndham 5015 Ridgeway Dr 45 Room Hotel Harlan, IA 51537 $2,400,000 ($53,333/Room) 8% Cap Rate
Investment Highlights
- Recently upgraded with new mattresses, granite countertops in the lobby and breakfast area, and updated Wyndham paint colors.
- Strong visibility and accessibility near Highway 59, surrounded by major retailers and dining options.
- Parking lot with 50 paved spaces provides convenience for guests and event traffic.
- Includes 45 guestrooms plus modern amenities such as a refurbished swimming pool and renovated fitness center.
- Projected annual revenue of $850,000 by 2026, supported by consistent occupancy rates and competitive ADR.
Executive Summary
Baymont by Wyndham in Harlan, Iowa presents an outstanding investment opportunity with an asking price of $2,400,000 and an 8% cap rate. This hotel features 45 well-maintained rooms and has undergone significant renovations aimed at improving guest experience and operational efficiency. Recent upgrades include a new fitness room, refurbished swimming pool, granite countertops in high-traffic areas, LED platform bed frames, new mattresses, and updated Wyndham paint colors, ensuring both aesthetic appeal and functionality.
Strategically located near U.S. Highway 59, the property provides convenient access for travelers and proximity to prominent retail brands such as Hy-Vee, Subway, Burger King, and Dairy Queen, enhancing the guest amenity base. The hotel’s 2024 occupancy rate stands at 60.33% with an ADR of $92.64, supporting strong revenue potential. Financial projections indicate a projected 2026 revenue of $850,000, with stable historical performance demonstrated through a 4-year average NOI of $228,124. With paved parking for 50 vehicles and zoning classified as commercial, this asset offers a solid addition to any hospitality portfolio with proven cash flow and operational incentives.
Strategically located near U.S. Highway 59, the property provides convenient access for travelers and proximity to prominent retail brands such as Hy-Vee, Subway, Burger King, and Dairy Queen, enhancing the guest amenity base. The hotel’s 2024 occupancy rate stands at 60.33% with an ADR of $92.64, supporting strong revenue potential. Financial projections indicate a projected 2026 revenue of $850,000, with stable historical performance demonstrated through a 4-year average NOI of $228,124. With paved parking for 50 vehicles and zoning classified as commercial, this asset offers a solid addition to any hospitality portfolio with proven cash flow and operational incentives.
Property Facts
| Price | $2,400,000 | Lot Size | 2.17 AC |
| Price Per Room | $53,333 | Building Size | 10,885 SF |
| Sale Type | Investment | No. Rooms | 45 |
| Cap Rate | 8% | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 2008 |
| Property Subtype | Hotel | Parking Ratio | 4.59/1,000 SF |
| Building Class | C | Corridor | Interior |
| Zoning | C - Commercial | ||
| Price | $2,400,000 |
| Price Per Room | $53,333 |
| Sale Type | Investment |
| Cap Rate | 8% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.17 AC |
| Building Size | 10,885 SF |
| No. Rooms | 45 |
| No. Stories | 2 |
| Year Built | 2008 |
| Parking Ratio | 4.59/1,000 SF |
| Corridor | Interior |
| Zoning | C - Commercial |
Amenities
- Pool
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 15 | $91.00 | - |
| Guest Room | 30 | $81.00 | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 833325000292 | Improvements Assessment | $1,699,517 |
| Land Assessment | $150,000 | Total Assessment | $1,849,517 |
Property Taxes
Parcel Number
833325000292
Land Assessment
$150,000
Improvements Assessment
$1,699,517
Total Assessment
$1,849,517
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Baymont by Wyndham | 5015 Ridgeway Dr
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