705 Iowa W Ave Marshalltown, IA 50158-8880

Property Details for 705 Iowa W Ave

Year built

1956

Construction

FRAME

Lot size

1.43 lot acres

Property size

4,460 SF

Zone code

CC

Property type

Hotels

Property subtype

Motels

APN

8318-10-480-002

APU

831810480002

Description

This 20-key motel, the Flamingo Inn, presents a compelling value-add or redevelopment opportunity in Marshalltown, Iowa. Situated on a 1.43-acre lot at 705 Iowa Ave W, this property boasts 7,724 square feet and offers significant potential for investors. Built in 1956 using durable concrete blocks, the single-story building includes a manager's living quarters complete with a kitchen, three bedrooms, and a spacious living room. The property features 17 parking spaces and enjoys excellent visibility with approximately 305 feet of frontage on Iowa Avenue and 205 feet of depth. Its strategic location, just north of Highway 30 and west of Highway 14, provides easy access and high visibility. The property's asking price is $225,000, representing a price per key of $11,250 and a 12% cap rate. With a 2022 Vehicle Per Day (VPD) count of 10,900 for Iowa Avenue, this location offers strong potential for increased revenue and return on investment. The substantial lot size allows for various redevelopment options, making this a unique investment prospect in a growing market. The APN is 8318-10-480-002. This is a rare chance to acquire a well-positioned motel with substantial upside.