100 76Th StDavenport, IA 52806

Property Details for 100 76Th St

Year built

1984

Lot size

7.53 AC

Property size (Sq ft)

58,900 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

X0207-02B

APU

X020702B

Description

This fee-simple, 118-key Best Western Plus Steeplegate Inn presents a compelling investment opportunity in the thriving Quad Cities MSA. Boasting 58,900 square feet across a two-story building on an 11.77-acre lot, this property underwent extensive renovations in 2024, including a new solar roof reducing electricity costs by 30% and significant upgrades to guest rooms (new LVT flooring in 92 rooms, new PTAC units in 106 rooms, and updated wiring). Capital improvements totaling $756,750 were completed in 2023 and 2024. The hotel features a heated indoor pool and spa, spacious atrium, outdoor patio, fitness center, and complimentary breakfast. Significant business amenities include over 8,000 square feet of meeting space and a business center. A leased food and beverage operation contributes additional income, paying $120,000 annually plus 30% of utility costs. The lease commenced in September 2024. The hotel enjoys a prime location at the intersection of Interstate 80 and US Route 61, one mile from a new, large Amazon fulfillment center, and within easy reach of major employers like John Deere, Rock Island Arsenal, and others. The property's proximity to numerous attractions and the Davenport Municipal Airport further enhances its appeal. Built in 1989, this well-maintained hotel offers a strong current room revenue exceeding $1.9 million. The asking price is $7,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $12,079,694

  6.5%

  $11,150,487

  7%

  $10,354,024

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,052,332

  Geo Method

  $18,028,554

• Alternative Use

  Use

  Valuation

  Residential

  $12,173,092

  Hospitality

  $11,150,487

  Educational

  $9,277,074

  Medical

  $9,596,127

  Retail

  $14,431,005

Location Insight

City

Davenport

County

Scott

State

Iowa

Latitude

41.5946

Longitude

-90.5739

CBSA code

19340

CBSA name

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.