425 Timberland Dr Story City, IA 50248-8773

This 59-room Comfort Inn in Story City, IA, presents a compelling investment opportunity. Built in 2003 and extensively renovated in 2023, this three-story, 32,896 square foot hotel boasts a 10.82% cap rate and a strong NOI of $411,259. The asking price is $3,800,000, translating to $115.52 per square foot and $64,406.78 per key. The property features modern amenities including a complimentary breakfast, fitness center, indoor pool, and meeting facilities. Its prime location directly off Interstate 35, just north of Des Moines, ensures high visibility and accessibility. Minimal post-acquisition improvements are anticipated. The current remote management structure offers significant potential for increased profitability through hands-on operation. Story City's robust growth trajectory, fueled by a $20 million wastewater treatment plant upgrade and numerous residential and commercial developments, further enhances the investment appeal. This fee-simple ownership offers a stabilized investment with substantial upside potential in a thriving market. The property is a single building on a non-ground lease. This is a turnkey opportunity for an owner-operator seeking a high-return hospitality investment with immediate upside.