77-Room
New
For Sale
$4,250,000
5850 Morning Star, Pleasant Hill, IA 50327
A midscale lodging property at the intersection of US65 and SE University Avenue.
Property Size46,763 SF
Days on Market3
Property Features for 5850 Morning Star
General Information
Standard status
Active
Size
46,763 SF
Property subtype
Hospitality
Additional Details
Highway Access
Yes
Building Details
Building Size
46,763 SF
Year Built
2004
Listed By:
Cole Hornbuckle · License #IA #S71305000
(319) 504-0998
Source:
Svncreate
Added: Oct 11
Last Checked: Oct 12 at 5:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cole Hornbuckle
Investment Insights
Based on property information with market context.
This midscale hotel contains 77 rooms and was built in 2004.
The property is at the intersection of US65 and SE University Avenue in Pleasant Hill, Iowa, within the Des Moines CBD/North market.
The property is at the intersection of US65 and SE University Avenue in Pleasant Hill, Iowa, within the Des Moines CBD/North market.
Key Highlights
- 77‑room midscale hotel
- Built in 2004
- At the intersection of US65 and SE University Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$283,208
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,664,160
$5.7M
Cap Rate 7%
$4,045,829
$4.0M
Cap Rate 9%
$3,146,756
$3.1M
Market Conditions
NOI Build-Up for 46,763 SF
Gross rent
$701.4K $15.00/SF
− Vacancy
−$105.2K −$2.25/SF
EGI
$596.2K $12.75/SF
− OpEx
−$313.0K −$6.69/SF
NOI
$283.2K $6.06/SF
Area
Polk County, IA
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,664,160
Cap Rate 7%
$4,045,829
Cap Rate 9%
$3,146,756
Alternative Uses
Best Use
Hotel Hospitality
$4.05M
$3.54M – $4.72M
NOI $283,208 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$45.02M
$39.39M – $52.52M
NOI $3,151,080 @ 7.0% cap · market cap 74.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 50327, IA
11,807
Population
5,077
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
747
Density / Sq Mi
$90,759
Median Household Income
$46,177
Median Earnings
$1,219
Median Rent
$303,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - A midscale lodging property at the intersection of US65 and SE University Avenue.
Where is this hotel located?
The property is located at 5850 Morning Star Pleasant Hill, IA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 77‑room midscale hotel; Built in 2004; At the intersection of US65 and SE University Avenue
