1726 Lake Ave, Storm Lake, IA 50588

Storm Lake, IA Homes for Sale in 50588 and Real Estate MLS # 211006

$1,999,000

  • N/A
  • N/A
  • N/A
  • Closed
Closed

General Description

The Quality Inn is surrounded by retail, restaurants, and all the recreational amenities Storm Lake has to offer. The hotel's close proximity to Buena Vista Univ and other major businesses in the community offer exceptional opportunity for partnerships. Gross revenue and NOI exceptional in 2021. Solid demand. Kings Point Water Park and the lake itself have elevated overall tourism to the region. The Quality Inn benefits greatly from these visitors, including spikes in summer travel. The hotel dons a pool with two suites. It is one of only two hotels in Storm Lake that offer the opportunity for pool access. MAJOR investments made including but not limited to new beds/furniture, carpet, and a new roof in 2021. All investments and upgrades required to meet Quality Inn franchise standards have been met. Take advantage of Iowa's low hotel transfer rate. The convenient location near HWY 71 offers even more marketability. Financials and reports available on request.

Legal: 34-91-37 STORM LAKE CORP WASH PARC NE COR NE NW
Sold Price: $1,757,272
Sold Date: 06/27/2022
Status: Closed

Property Information

211006

$1,999,000

Sale

Commercial

COMMERCIAL

1726 Lake Ave

Storm Lake

IA

50588

$1,757,272

36702

2020

1997

Utilities

No

LISTED BY

RE/MAX Experience, Jeff Carlson

PROPERTY LOCATION

MORTGAGE CALCULATOR

RE/MAX Lakes Realty - Licensed in Iowa and Minnesota. Each Office Independently Owned and Operated

RE/MAX Lakes Realty

Licensed in Iowa and Minnesota. Each Office Independently Owned and Operated

Ask About this Property #211006

MARKET WATCH

Open House(10)
New Construction(130)
New Listing(40)
Price Adjustment(13)
Price Decreased(78)

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