4025 Hammond Ave Waterloo, IA 50701-9311
- Hotels
- 39,092 SF
- 2.20 lot acres
Current Use by Public Records
- cx.wtrl / Hotel
- Country Inn & Suites by Radisson, Waterloo, IA / Hotel
Property Details for 4025 Hammond Ave
- Year built
- 1998
- Construction
- WOOD
- Lot size
- 2.20 lot acres
- Property size
- 39,092 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 8813-11-101-012
- APU
- 881311101012
Description
This 64-key Country Inn & Suites by Radisson in Waterloo, IA, presents a compelling investment opportunity. Built in 1998 and fully renovated in 2018-2019, this three-story, 14,444 square foot hotel boasts an interior corridor design and sits on a 2.2-acre lot. Strategically located off Interstate 380 and Highway 20, it enjoys high visibility and easy access, benefiting from proximity to major attractions including Lost Island Waterpark, Isle Casino Hotel Waterloo, and Crossroads Mall. The University of Northern Iowa and UNI-Dome are also within a short driving distance. The hotel's strong location within a thriving market caters to a diverse clientele, including leisure and business travelers, healthcare professionals, and visitors to area attractions. Recent capital expenditures exceeding $1,400,000 have maintained the property's excellent condition and ensured compliance with brand standards. 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 $3,900,000, a twelve-month trailing average (August) ADR of $98.64, RevPAR of $50.11, and occupancy of 50.80%. Projected Year 1 NOI is $299,425, representing a 7.68% cap rate. Year-over-year RevPAR growth stands at 9.4%. Amenities include an indoor/outdoor whirlpool/hot tub, fitness center, business center, indoor heated pool, adjoining rooms, laundry facilities, vending machines, and hot breakfast facilities. The property's strong performance and prime location make it an attractive investment prospect.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waterloo
- County
- Black Hawk
- State
- Iowa
- Longitude
- -92.3353
- Latitude
- 42.4571
- CBSA code
- 47940
- CBSA name
- WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA
