100 76Th St Davenport, IA 52806

This fee-simple, 118-key Best Western Plus Steeplegate Inn presents a compelling investment opportunity in the thriving Quad Cities MSA. Boasting 58,900 square feet across a two-story building on an 11.77-acre lot, this property underwent extensive renovations in 2024, including a new solar roof reducing electricity costs by 30% and significant upgrades to guest rooms (new LVT flooring in 92 rooms, new PTAC units in 106 rooms, and updated wiring). Capital improvements totaling $756,750 were completed in 2023 and 2024. The hotel features a heated indoor pool and spa, spacious atrium, outdoor patio, fitness center, and complimentary breakfast. Significant business amenities include over 8,000 square feet of meeting space and a business center. A leased food and beverage operation contributes additional income, paying $120,000 annually plus 30% of utility costs. The lease commenced in September 2024. The hotel enjoys a prime location at the intersection of Interstate 80 and US Route 61, one mile from a new, large Amazon fulfillment center, and within easy reach of major employers like John Deere, Rock Island Arsenal, and others. The property's proximity to numerous attractions and the Davenport Municipal Airport further enhances its appeal. Built in 1989, this well-maintained hotel offers a strong current room revenue exceeding $1.9 million. The asking price is $7,500,000.