Listed by NAI Sioux Falls
$2,400,000
Baymont by Wyndham
Details
Property Type Hospitality
Sub Type Hotel, Full Service
Square Footage 10,885
Keys 45
Cap Rate 8.00%
NOI $228,124
Occupancy 60.33%
Brand/Tenant Baymont by Wyndham
Price per SqFt $220
Year Built 2008
Acreage 2.000
Zoning Commercial
Parking Spaces 50 spaces
Parking Per SqFt 4.59
Investment Type Stabilized
5015 Ridgeway Drive, Harlan, IA 51537
Marketing description
Located southeast of the Highway 59/Highway 44 intersection. Area neighbors include Bomgaars, Hy-Vee, The Buck Snort Restaurant, Farm Credit Services of America, Harlan Dental, Burger King, Pizza Hut.
Investment highlights
- 45 rooms
- 2024 Occupancy: 60.33%
- Parking Lot: Paved - 50 spaces
- Price per Room: $55,814
- ADR - 2024: $92.64
- GRM: 2.90Xs
- 2026 Projected Revenue: $850,000
- Price/sq. ft.: $220.49
- Real Estate Taxes: $42,000
- 2025 Revenue: $828,788
- 4 Year Average NOI (2022-2025): $228,124
- Estimated ADS: $140,000
- Estimated Cash Flow after ADS: $60,000
- Recent improvements include new mattresses, platform LED bed frames, LVT flooring, vanity lights, 10 new PTAC units, 25 new mini refrigerators, updated Wyndham paint colors, a new fitness room, a refurbished swimming pool, and granite countertops in the lobby and breakfast area.
Listing Contacts
Listed by NAI Sioux Falls
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$228,124.00
$19,010.33/mo
Valuation Metrics
0
DSCR
9.51%
Cap Rate
9.51%
ROI
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