1230 Collins Rd NE - Hospitality FOR SALE


Cedar Rapids, IA 52402
$10,000,000 USD
303-250-8338
1230 Collins Rd NE, Cedar Rapids, IA for Sale
$10,000,000 USD
Hospitality - FOR SALE
1/26
null | Request Cap Rate

1230 Collins Rd NE
Cedar Rapids, IA 52402


HIGHLIGHTS

  • Recent Formula Blue Renovation
  • Three-story, Interior Corridor
  • 83 Non-smoking Guestrooms
  • Stable, strong market place

OVERVIEW

The Holiday Inn Express presents an exciting opportunity to own one of the most renowned and esteemed brands in the hospitality industry. The hotel recently underwent a comprehensive Formula Blue renovation, securing its position with a new 10-year franchise agreement. A new owner should anticipate a light soft goods PIP as part of the change-of-ownership requirements. The Cedar Rapids market features a diverse range of demand drivers, including manufacturing, food processing, agriculture, biotechnology, and medical technology. With the Holiday Inn Express brand being highly sought after, this acquisition represents a reliable and promising investment opportunity in the hospitality sector.

FOR SALE DETAILS

PRICE

$10,000,000 USD

PRICE/SF

$243 USD /SF

# OF ROOMS

83

PRICE/ROOM

$120,482 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Inn Express Cedar Rapids (Collins Rd)

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1996

PARKING SPACES

76

LAND DETAILS

LAND ACRES

1.69 AC

LAND SF

73,616 SF

ZONING

S-MC

APN/PARCEL ID

14032-52005-00000

ASK ABOUT THIS PROPERTY

Chris KilcullenAvison Young Hotel GroupMore Info
303-250-8338

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Chris KilcullenAvison Young Hotel GroupMore Info
303-250-8338

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.