2910 Main StCedar Falls, IA 50613

Property Details for 2910 Main St

Year built

1998

Construction

FRAME

Lot size

1.72 AC

Property size (Sq ft)

39,095 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

8914-24-201-032

APU

891424201032

Description

This exceptional 64-key Country Inn & Suites by Radisson hotel presents a lucrative investment opportunity in the thriving Cedar Falls, IA market. Boasting 14,393 square feet across three stories in a single building on a 1.72-acre lot, this interior corridor hotel was built in 1998 and has undergone significant renovations (approximately $1,400,000) in 2018/2019. The property enjoys a prime location directly off Highway 27 (21,300 AADT) and University Avenue (15,600 AADT), providing high visibility and convenient access to the University of Northern Iowa, UNI-Dome, Gallagher Bluedorn Performing Arts Center, and Cedar Falls Main Street. The hotel benefits from a diverse range of demand generators, including leisure and business travelers, healthcare professionals, university students and families, and various group bookings. The estimated cost for a change of ownership PIP is approximately $200,000, requiring verification by Choice Hotels. Financial highlights include a list price of $5,500,000, and strong year-over-year revenue growth (5%). The August 2024 T12 data shows an ADR of $114.08, RevPAR of $70.96, and occupancy of 62.20%. Amenities include an indoor/outdoor whirlpool/hot tub, fitness center, indoor heated pool, business center, vending machines, guest laundry, and a hot breakfast dining area. The hotel's proximity to key attractions (within 11.6 miles of Lost Island Theme Park and 6.7 miles from Waterloo Regional Airport) further enhances its appeal. This property represents a compelling investment in a dynamic and growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $7,309,619

  6.5%

  $6,747,340

  7%

  $6,265,388

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,689,210

  Geo Method

  $4,689,210

• Alternative Use

  Use

  Valuation

  Residential

  $7,366,136

  Hospitality

  $6,747,340

  Educational

  $5,613,708

  Medical

  $5,806,772

  Retail

  $8,732,435

Location Insight

City

Cedar Falls

County

Black Hawk

State

Iowa

Latitude

42.5109

Longitude

-92.4453

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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