Hotel Real Estate

Clayton County, IA

Hotel Real Estate
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Asking Price: Get Financing: $235,000

Cash Flow: $37,000

Gross Revenue: $70,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $235,000

Established: 1902

Hotel Real Estate

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Business Description

This is a great opportunity to own the hotel Real Estate only. The hotel currently has 16 total rooms to rent. There are 11 daily rooms and 5 apartments with longer term tenants. The hotel has a large and a small banquet facility a fully equipped bar and restaurant that are not included in the sale of the hotel real estate however, they can be purchased separately. The seller will entertain a lease back arrangement for the bar and restaurant from the successful buyer.

Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
N/A
Employees:
1 FT/2 PT
Facilities:
This a great opportunity to own a building that is listed on the National Register of Historical places in Iowa. Building has been renovated but still holds all the charm of a historical building. The rental properties have been updated and hotel has several of the rooms remodeled. Hotel has 16 rooms with 11 rooms for daily rental along with 5 rooms currently used as apartments. Property also has a commercial lease unit hosting a consumer service business.
Competition:
This hotel is the only hotel in the area. Hotel offers restaurant and bar services for its guests setting it apart from most hotel in a large area.
Growth & Expansion:
Hotel could be listed on AirBnB along with additional marketing to the festivals held in the area. Banquet facilities are underutilized at the moment but could be a good source of additional income.
Financing:
Seller may consider financing up to $20,000.00 for a very well qualified buyer.
Support & Training:
Will train for 2 weeks @ no cost The successful owner will be well served to have strong management and marketing skills. This business gives you the opportunity to work with the public providing a great customer experience.
Reason for Selling:
Owner is retiring after 27 years.
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Michael Rooney

Business Listed By:
Mike Rooney

Murphy Business & Financial Corporation

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