4444 Czech Ln NE Cedar Rapids, IA 52402
- Hotels
- 58,688 SF
- 2.36 lot acres
Current Use by Public Records
- Staybridge Suites Cedar Rapids North, an IHG Hotel / Hotel / Conference Center
Property Details for 4444 Czech Ln NE
- Year built
- 2001
- Lot size
- 2.36 lot acres
- Property size
- 58,688 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 14-04-3-76-001-0-0000
- APU
- 140437600100000
Description
This exceptional 82-key Staybridge Suites hotel in Cedar Rapids, Iowa presents a lucrative investment opportunity. Boasting 58,688 square feet across four stories, this 2001-built property sits on a 2.36-acre lot zoned for commercial use. The hotel features a paved parking lot with 82 spaces, ensuring ample guest parking. Financial highlights include a projected 2024 revenue of $2,650,000 and an occupancy rate of 81.71%. The property's strong performance is further evidenced by a 2023 revenue of $2,653,000 and a reported average daily rate (ADR) of $115.01. Real estate taxes for 2023 totaled $159,155. The asking price is $10,000,000, translating to $170.39 per square foot and $121,951.22 per room. This well-maintained hotel offers a compelling return on investment, with key financial metrics including a projected cap rate of 11%, a gross rent multiplier (GRM) of 3.76x, and a revenue per available room (RevPAR) of $96.32. Located at 4444 Czech Ln NE, Cedar Rapids, IA 52402, this property is ideally situated within Linn County. The property's strong operational history and prime location make it an attractive asset for discerning investors.
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
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.6685
- Latitude
- 42.0248
- CBSA code
- 16300
- CBSA name
- CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA
