4444 Czech LnCedar Rapids, IA 52402

Property Details for 4444 Czech Ln

Year built

2001

Lot size

2.36 AC

Property size (Sq ft)

58,688 SF

Property type

Hotels

Property subtype

Motels

APN

14-04-3-76-001-0-0000

APU

140437600100000

Description

This exceptional 82-key Staybridge Suites hotel in Cedar Rapids, Iowa presents a lucrative investment opportunity. Boasting 58,688 square feet across four stories, this 2001-built property sits on a 2.36-acre lot zoned for commercial use. The hotel features a paved parking lot with 82 spaces, ensuring ample guest parking. Financial highlights include a projected 2024 revenue of $2,650,000 and an occupancy rate of 81.71%. The property's strong performance is further evidenced by a 2023 revenue of $2,653,000 and a reported average daily rate (ADR) of $115.01. Real estate taxes for 2023 totaled $159,155. The asking price is $10,000,000, translating to $170.39 per square foot and $121,951.22 per room. This well-maintained hotel offers a compelling return on investment, with key financial metrics including a projected cap rate of 11%, a gross rent multiplier (GRM) of 3.76x, and a revenue per available room (RevPAR) of $96.32. Located at 4444 Czech Ln NE, Cedar Rapids, IA 52402, this property is ideally situated within Linn County. The property's strong operational history and prime location make it an attractive asset for discerning investors.

• CAP approach

  CAP return

  Valuation

  6%

  $10,972,935

  6.5%

  $10,128,864

  7%

  $9,405,373

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,039,274

  Geo Method

  $7,039,274

• Alternative Use

  Use

  Valuation

  Residential

  $11,057,776

  Hospitality

  $10,128,864

  Educational

  $8,427,096

  Medical

  $8,716,916

  Retail

  $13,108,815

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Latitude

42.0248

Longitude

-91.6685

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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