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 Property Type Business/Commercial
 Parcel # 251-0987.06
 County Iowa
 Sub Area J17
 Municipality Mineral Point
 MLS# 1898309
 Listing Date 11/19/2020
 Sold Price $430,000
 Close Date 03/01/2021 12:00 AM

MLS Public Remarks  This limited service hotel almost runs itself: Capitalize on strong cash flow and interior corridors with 100% occupancy. Long-term renewable energy projects in the area provide a steady flow of guests and long-term occupants for the near future. Great location on Business Hwy 151 just off the 4-lane! Manager's quarters include a private kitchenette and bath. Bedding, towels & room furnishings included. The 15% cap rate makes this a good investment and low-contact, low-touch keeps your business running during CoVid. Some rooms have recent improvements and updates.
Documents and Related Links  
1) RECR
2) Trav Inn aerial map per GIS site
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Mineral Point
  • C/T/V  City
  • Unit #  
  • Directions  Hwy 151 S To Mineral Point, Stay On Bus 151 (becomes Dodge St)
  • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  Yes
  • For lease only  No
  • Ann. Rent/SqFt  $0
  • Total Units/Bldg  25
  • Building Gross SqFt  11,700
  • Net Leasable SqFt  0
  • Year Built  1983
  • Source for Year Built  PubR
  • Approx Bldg Dimen  52x100
  • Street Frontage  209
  • Parking Fees/Mo.  $0
  • Onsite Parking  30
  • # of Stories  2
  • Ceiling Height Min  8
  • Ceiling Height Max  0
  • Number of Loading Docks  0

  • Zoning  com
  • Est. Total Acres  1.44
  • Source Of Est Acres  PubR
  • Lot Dimensions  
  • Owner  
  • Tradename  
  • ASSESSMENT & TAXES  
  • Land Assessment  $72,000
  • Assessment Year  2019
  • Net Taxes  $7,987
  • Tax Year  2019
  • Improvements  $250,000
  • Total Assessment  $322,000
  • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $0
  • Gross Operating Income  $0
  • Annual Operating Exp  $0
  • Net Operating Income  $0
  • UNIT INFORMATION  
    Unit Lease Type Lease Exp. Date Renewal Option Base Annual Rent Annual Rent/SqFt Other Fees/SqFt Gross SqFt
    1 n/a n/a No $0 $0 $0 0
    2 - 0 0 $0 $0 $0 0
    3 - 0 0 $0 $0 $0 0
    Items Included Clothes washers (2), gas dryer, 2 vacuum cleaners, all bedding & towels, water softener, and room inventory to be provided
    Items Excluded  Personal possessions of seller(s) and hotel guests
    INTERIOR FEATURES  
  • Heating/Cooling  Forced air, Radiant, Window AC
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Crawl space
  • Fuel  Electric, Natural gas
  • Seating Capacity  
  • EXTERIOR FEATURES  
  • Type   Motel/Hotel/Bed & Brkfst
  • Exterior Treatment  
  • Building Parking  21-35 spaces, Onsite, Paved
  • Roofing  Composition
  • Terms/Option  
  • Miscellaneous  Internet - DSL
  • OTHER FEATURES  
  • Documents on File  Inventory list, P & L statement, Property Condition Report
  • Location  Near Major Highway
  • Tenant Pays  N/A
  • Present Use  Motel/Hotel/Bed & Brkfst
  • Licenses  Other
  • Lease Type  None
  • Occupied by  
  • Sale Includes  Business name, Easements, Furniture, Inventory, Signs
  • Features  Reception area



  • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of First Weber Inc