1726 Lake Ave, Storm Lake, IA 50588
Storm Lake, IA Homes for Sale in 50588 and Real Estate MLS # 814686
$1,999,000
- N/A
- N/A
- N/A
- 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 University and other major businesses in the community offer exceptional opportunity for partnerships. Gross revenue and NOI exceptional in 2021, as bookings are in 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 two sweets with whirlpool jacuzzi. It is one of only two hotels in Storm Lake that offer the opportunity for pool access. Fitness center overlooks pool area. MAJOR investments have been made into the property over the last two years including but not limited to new breakfast center, 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 of this 60 room property. Boating, fishing for walleye, hiking and bike trails, and enjoying lakeshore views from a variety of parks are all part of what makes Storm Lake a tranquil destination for visitors from all over the region. Financials and reports available on request.Legal: 4-91-37 STORM LAKE CORP WASH PARC NE COR NE NW
Sold Date: 06/27/2022
Status: Closed
Property Information
814686
$1,999,000
$1,757,272
1726 Lake Ave
Surrounding Areas/Other Areas
Storm Lake
Buena Vista
IA
Sale
Commercial
2
No
170
1997
50588
36702
LISTED BY
RE/MAX Experience, Jeff Carlson (712.635.1763)
PROPERTY LOCATION
MORTGAGE CALCULATOR
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