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$3,200,000
Est. payment /mo
0.96 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 709497
HOA Y/N No
Year Built 1968
Annual Tax Amount $39,741
Lot Size 0.960 Acres
Acres 0.96
Property Description
Value-Add Investment Opportunity: This 80-room Baymont Inn & Suites in Keokuk, Iowa, presents an exceptional value-add investment opportunity for the savvy buyer. With a prime location, generous amenities, and strong potential, this property offers a unique chance to revitalize a full-service hotel and capitalize on its untapped potential. Situated on Main Street, the hotel boasts high visibility, prominent signage, and is directly across from the River City Mall, which is undergoing a transformative renovation. Just two blocks from the Mississippi River and a pedestrian scenic overlook, this property is well-positioned to attract both business and leisure travelers. Room Mix: 4 King Sts, 24 King Rooms, and 52 Double Rooms. Banquet Hall: 5,700 SF finished basement with a reception area, bathrooms, and flexible space divisible into three sections. Renovation could unlock significant revenue potential.
- Largest Pool in a 50-Mile Radius: A standout feature to attract families and groups.
- Additional Amenities: A fully equipped fitness center, business center, and meeting room.
Restaurant and Office Potential: The main-level office suite, formerly a restaurant and bar, includes a large kitchen space ripe for redevelopment. Wyndham's PIP requirements include exterior painting, window replacements, and furniture updates, providing a clear roadmap for improvements. With these upgrades, the property can quickly reposition itself as a competitive, profitable asset in the market.
- Largest Pool in a 50-Mile Radius: A standout feature to attract families and groups.
- Additional Amenities: A fully equipped fitness center, business center, and meeting room.
Restaurant and Office Potential: The main-level office suite, formerly a restaurant and bar, includes a large kitchen space ripe for redevelopment. Wyndham's PIP requirements include exterior painting, window replacements, and furniture updates, providing a clear roadmap for improvements. With these upgrades, the property can quickly reposition itself as a competitive, profitable asset in the market.
Location
State IA
County Lee
Area Keokuk
Zoning C
Interior
Heating Forced Air, Gas, Natural Gas
Cooling Central Air, Window Unit(s)
Fireplace No
Exterior
Utilities Available Electricity Available
Roof Type Rubber
Private Pool No
Building
Lot Description Rectangular Lot
Foundation Poured
Sewer Public Sewer
Water Public
Others
Tax ID 044521254780010
Monthly Total Fees $3, 311
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Keller Real Estate Services
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