1212 Shore Dr Clear Lake, IA 50428

Property Details for 1212 Shore Dr

Year built

1953

Lot size

1.07 lot acres

Property size

6,708 SF

Property type

Hotels

Description

This exceptional investment opportunity presents a well-established 17-room hotel situated on a 1.07-acre lot in desirable Clear Lake, Iowa. Built in 1953 and extensively renovated in 2010, this property boasts two buildings, each one story, encompassing 6,708 square feet. The hotel benefits from a prime location near lake access, attracting both local and tourist clientele. The property also includes two income-producing apartments, adding to its diverse revenue streams. Recent upgrades include electrical work, equipment replacements, and a new roof. The property is zoned C, offering flexibility for future development. This established asset presents a compelling opportunity for investors seeking a profitable venture in a thriving Iowa lake community. The property's proximity to the lake provides significant appeal to guests. The existing infrastructure, including the recently renovated systems, minimizes immediate capital expenditure needs. The inclusion of the two apartments provides a secondary income stream, enhancing the overall return on investment. This turnkey operation is ready for a new owner to continue its success. The seller also owns the adjacent property, offering potential for expansion to a larger 2.4-acre lot (sold separately).