325 Main St - Hospitality FOR SALE


Keokuk, IA 52632
$3,200,000 USD
319-231-1160
325 Main St, Keokuk, IA for Sale
$3,200,000 USD
Hospitality - FOR SALE
1/41
null | 10.38% Cap Rate

325 Main St
Keokuk, IA 52632


OVERVIEW

Prime Location and Market Potential Located on Main Street, this property offers outstanding visibility and signage, making it a landmark destination in Keokuk. Just two blocks from the Mississippi River, it is ideally positioned for guests seeking proximity to the scenic pedestrian overlook and riverfront activities. Additionally, the property is directly across the street from the River City Mall, currently undergoing a transformative full-scale renovation, which promises to drive significant foot traffic and increase local demand for accommodations. With its central location near restaurants, shopping, and entertainment, the Baymont Inn & Suites is perfectly situated to capitalize on the area's revitalization and appeal to both leisure travelers and business professionals. Diverse Room and Event Space Offerings This 80-room hotel features a versatile mix of accommodations to meet the needs of a wide range of guests. The room mix includes 4 spacious King Suites, 24 King Rooms, and 52 Double Full Rooms, all designed to cater to business travelers, families, and groups. One of the property’s standout features is its 5,700-square-foot banquet hall located in the fully finished basement. With a reception area, restrooms, and the ability to divide the space into three separate sections, the banquet hall is ideal for hosting weddings, corporate events, and community gatherings. Though it requires some renovations, this space represents an enormous opportunity for additional revenue generation. Unique Amenities to Attract Guests The hotel is home to the largest indoor pool within a 50-mile radius, a rare and highly sought-after feature that sets it apart from competitors. Other amenities include a fully equipped fitness center, a business center, and a dedicated meeting room, providing guests with everything they need for both relaxation and productivity. The property also includes a large office suite on the main level, which was previously utilized as a restaurant and bar. With its spacious kitchen infrastructure, this area is ripe for redevelopment into a dining venue or leased as office space for additional income. The covered, canopied entrance and plentiful parking further enhance the property’s convenience and appeal to guests. Investment Potential and Upside While currently underperforming, the Baymont Inn & Suites offers a clear and manageable path to revitalization and profitability. Wyndham’s required PIP (Property Improvement Plan) includes straightforward updates such as exterior painting, window replacements, and furniture upgrades. These improvements, combined with strategic marketing and management, can significantly enhance the property’s operational performance and guest satisfaction. The banquet hall and office suite offer untapped revenue streams that could elevate the property’s income potential. Positioned in a growing market with strong local development, this hotel represents an outstanding opportunity for an investor to acquire a branded asset with significant upside potential in the heart of Keokuk.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$61 USD /SF

# OF ROOMS

80

PRICE/ROOM

$40,000 {currency}

CAP RATE

10.38%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Baymont Inn & Suites Keokuk

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

5

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1968

PARKING SPACES

75

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

Commercial

APN/PARCEL ID

04-45-21-25-478-0010

ASK ABOUT THIS PROPERTY

Chase Keller, CCIMBetter CommercialMore Info
319-231-1160

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Chase Keller, CCIMBetter CommercialMore Info
319-231-1160

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