Hotels for Sale

Holiday Inn Express Cedar Rapids, IA

Address:
Cedar Rapids, Iowa
Description:

UNDER CONTRACT

  • Fee simple interest in the 83-room Holiday Inn Express Cedar Rapids (Collins Rd.) offered at an attractive discount to current replacement cost
  • Available unencumbered of debt and management with ability to retain the Holiday Inn Express flag via a long-term relicense agreement with IHG
  • Subject Hotel represents one of only two existing IHG products in the entire city of Cedar Rapids
  • High-yield investment with forecasted year one double-digit cash on cash return
  • Minimal change of ownership PIP anticipated with approximately $2.1MM (~$25.3k/key) already invested in 2016 to complete the Formula Blue renovation
  • Opportunity for new ownership to continue post renovation performance growth alongside expanding Cedar Rapids market
  • Ideally situated just minutes north of downtown Cedar Rapids near the intersection of I-380 and Collins Rd. with upwards of 80,000 vehicles passing the exit daily
  • Within walking distance of Rockwell Collins, the single largest employer in Cedar Rapids and the second largest private employer in the entire state of Iowa
  • Convenient to all local and regional demand including major employers, St. Luke’s and Mercy Medical Center, the US Cellular Center, National Czech & Slovak Museum, Hawkeye Downs, Eastern Iowa Airport, Kirkwood Community College, and the University of Iowa colleges and medical facilities

Listing Agents

Beau Mullenix
T: 314.568.7098
Email

Lindsey White
T | 312.319.5656
Email

Adam Montufar
T: 515.446.4181
Email

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