4025 Hammond AveWaterloo, IA 50702

Property Details for 4025 Hammond Ave

Year built

1998

Construction

WOOD

Lot size

2.20 AC

Property size (Sq ft)

39,092 SF

Property type

Hotels

Property subtype

Motels

APN

8813-11-101-012

APU

881311101012

Description

This 64-key Country Inn & Suites by Radisson in Waterloo, IA, presents a compelling investment opportunity. Built in 1998 and fully renovated in 2018-2019, this three-story, 14,444 square foot hotel boasts an interior corridor design and sits on a 2.2-acre lot. Strategically located off Interstate 380 and Highway 20, it enjoys high visibility and easy access, benefiting from proximity to major attractions including Lost Island Waterpark, Isle Casino Hotel Waterloo, and Crossroads Mall. The University of Northern Iowa and UNI-Dome are also within a short driving distance. The hotel's strong location within a thriving market caters to a diverse clientele, including leisure and business travelers, healthcare professionals, and visitors to area attractions. Recent capital expenditures exceeding $1,400,000 have maintained the property's excellent condition and ensured compliance with brand standards. The estimated cost for a change of ownership PIP is approximately $200,000, requiring verification by Choice Hotels. Financial highlights include a list price of $3,900,000, a twelve-month trailing average (August) ADR of $98.64, RevPAR of $50.11, and occupancy of 50.80%. Projected Year 1 NOI is $299,425, representing a 7.68% cap rate. Year-over-year RevPAR growth stands at 9.4%. Amenities include an indoor/outdoor whirlpool/hot tub, fitness center, business center, indoor heated pool, adjoining rooms, laundry facilities, vending machines, and hot breakfast facilities. The property's strong performance and prime location make it an attractive investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $7,309,058

  6.5%

  $6,746,822

  7%

  $6,264,907

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,688,851

  Geo Method

  $4,688,851

• Alternative Use

  Use

  Valuation

  Residential

  $7,365,570

  Hospitality

  $6,746,822

  Educational

  $5,613,278

  Medical

  $5,806,326

  Retail

  $8,731,765

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Latitude

42.4571

Longitude

-92.3353

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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