Hotels for Sale

RESIDENCE INN DAVENPORT, IA

Address:
Davenport, Iowa
Description:
  • Fee simple interest in the institutionally owned and third party managed 78-room Residence Inn Davenport, offered at a substantial discount to replacement cost
  • Lender controlled asset was part of a larger portfolio foreclosure in 2017
  • Property is being sold individually; BUT the adjacent 62-room Country Inn & Suites Davenport is being offered simultaneously, offering buyers the opportunity to purchase both assets and capitalize on strong operating synergies and economies of scale in owning complexed hotels serving different sectors (extended stay and select-service)
  • Available unencumbered of debt and third-party management with the ability to retain the Residence Inn brand for a new long-term license
  • Significant operational upside following foreclosure process with very limited capital investment in property improvements in many years
  • Easily accessible via the intersection of Interstate 80 and US Route 61 with upwards of 42,000 cars passing the location daily
  • Within walking distance of nationally recognized full-serve restaurants and the nearly 1.1MM square foot North Park Mall retail center
  • Approximately four miles from downtown Davenport and proximate to all broader Quad cities regional demand including John Deere Corporate Headquarters, GE/Exelon, TaxSlayer Center, Rock Island Arsenal, Modern Woodman Park, John Deere Pavilion, and Quad Cities International Airport

Listing Agents

Adam Montufar
T: 515.446.4181
Email

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