425 Timberland DrStory City, IA 50248

Property Details for 425 Timberland Dr

Year built

2003

Construction

FRAME

Lot size

1.95 AC

Property size (Sq ft)

32,896 SF

Property type

Hotels

Property subtype

Motels

APN

02-07-301-350

APU

207301350

Description

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.

Location Insight

City

Story City

County

Story

State

Iowa

Latitude

42.1849

Longitude

-93.5732

CBSA code

11180

CBSA name

AMES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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