Hotel Restaurant Restaurant Banquet Hall

Clayton County, IA

Hotel Restaurant Restaurant Banquet Hall
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Asking Price: Get Financing: $354,000

Cash Flow: $24,035

Gross Revenue: $380,950

EBITDA: N/A

FF&E: $55,000

Inventory: N/A

Real Estate: $235,000

Established: 1902

Hotel Restaurant Restaurant Banquet Hall

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Business Description

New Price on a great hotel

This is a great opportunity to own a hotel and restaurant serving the local community and visitors to the area. This business is the only hotel in the area and has consistently high occupancy. Restaurant is open for breakfast, lunch and dinner. Bar is open in the afternoon to serve the community and the guest of the hotel. Banquet facilities are a great space to host rehearsal dinners or class reunions.

Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
N/A
Employees:
2 FT/12 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
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. Restaurant, banquet hall, bar and rental properties have been updated and hotel has several of the rooms remodeled. Hotel has 11 rooms for daily rental along with 5 apartments that are leased. Property also hosts a leased rental unit.
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 $10k for a very well qualified buyer.
Support & Training:
Will train for 2 weeks @ no cost. New owner should have management skill and restaurant skills would be helpful.
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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