$700,000

2013 E Main Street

Lamoni IA, 50140

Description

Beautiful thirty units well maintained Super 8 franchise motel with a nice living quarter. Great interstate location on heavily traveled I-35, in southern Iowa, at exit # 4, US Hwy 69 with traffic counts over 5000 per day. Property has recently been remodeled to meet all the franchise requirements of 2013 with new bedding, new Simmons mattresses, and new carpets in rooms as well as hallways. Exterior is refurbished with new stucco & paint. It is a home of Graceland private university. Super 8 provide free breakfast, HSIA and free local calls. All rooms are equipped with micro/fridges. It is an ideal motel for starter investor with good occupancy, high ADR and room revenue.

Details

MLS#1903081
StyleIndustrial
Sub-TypeResale
StatusActive
Year1992
Days On Site170

Features

Story(s)2
ZoningComm

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Area Information

StateIA
CountyDecatur
CityLamoni
Zip Code50140
AreaDecatur
Listing VS Median (in 50140)
Price:
$700,000
low | high
Med:
$520,000
75.714285714286% of Average
On Site:
170
low | high
Med:
169
100% of Average
Listing Updated: 11/19/2019
MLS Number: 1903081
Listing Provided By:
Ashok Parikh  of  SKOGMAN REALTY COMMERCIAL