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Best Western La Grande Hacienda 1401 N 2nd St

55 Room Hotel Cherokee, IA 51012 For Sale

Investment Highlights

  • 2-story, 55-room, interior corridor hotel with minimal PIP
  • Consistent revenue performance; More or less $850,000 Room Revenue Average
  • Space available to convert into extended stay suites
  • Near the Western Iowa Tech Community College and Convention Center, the Cherokee Regional Medical Center, the Cherokee Mental Health Institute, Tyson®
  • Absentee out of state owner. Opportunity for onsite owner operator to increase revenues and profit margins
  • New roof in 2022 and many recent improvements

Executive Summary

CBRE Hotels is pleased to be the exclusive agent in connection with the solicitation of offers to acquire the fee-simple Best WesternLa Grande Hacienda. The Best Western is conveniently located off northwestern Iowa’s highways 3 and 59 just minutes from theCherokee Historic District and the Sanford Museum.

Attachments

Best Western La Grande Hacienda Flyer

Property Facts

Sale Type Investment No. Rooms 55
Property Type Hospitality Number of Floors 2
Property Subtype Hotel Year Built/Renovated 1976/2022
Building Class B Parking Ratio 2.34/1,000 SF
Lot Size 3.07 AC Corridor Interior
Building Size 32,113 SF Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Sale Type Investment
Property Type Hospitality
Property Subtype Hotel
Building Class B
Lot Size 3.07 AC
Building Size 32,113 SF
No. Rooms 55
Number of Floors 2
Year Built/Renovated 1976/2022
Parking Ratio 2.34/1,000 SF
Corridor Interior
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

  • Business Centre
  • Pool
  • High Speed Internet Access
  • Patio
  • Meeting Event Space
  • Public Access Wi-Fi
  • Smoke-Free

Room Mix Information

Description No. Rooms Daily Rate SF
Guest Room 55 £61.03 -
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PROPERTY TAXES

Parcel Number 7-22-451-010 Improvements Assessment £1,123,567
Land Assessment £100,725 Total Assessment £1,224,292

PROPERTY TAXES

Parcel Number
7-22-451-010
Land Assessment
£100,725
Improvements Assessment
£1,123,567
Total Assessment
£1,224,292

zoning

Zoning Code C
C
(312) 935-1484

Contact

  • Listing ID: 31900727

  • Date on Market: 23/05/2024

  • Last Updated:

  • Address: 1401 N 2nd St, Cherokee, IA 51012

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© 2024 CoStar Group

Best Western La Grande Hacienda | 1401 N 2nd St
(312) 935-1484 x

Best Western La Grande Hacienda | 1401 N 2nd St

Douglas Johnson

(312) 935-1484

(312) 935-1484

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