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Flamingo Inn 705 Iowa Ave W

20 Room Hotel Marshalltown, IA 50158 $319,950 CAD ($15,998 CAD/Room) 16% Cap Rate

Investment Highlights

  • 1.43 acres of land on Iowa Ave. which has a VPD of 10,900
  • Property is located just North & West of Hwy 30 and Hwy 14’s intersection
  • 305 ft. of frontage on Iowa Ave

Executive Summary

Value add or redevelopment opportunity!
The Flamingo Motel is a 20-unit property located in Marshalltown, IA. It is just North of Hwy 30 and West of Hwy 14. In addition it has a manager’s living quarters equipped with a kitchen, three bedrooms and a spacious living room. The property was constructed in 1956, with durable concrete blocks, on 1.43 acres of land.
The property is located on Iowa avenue with approximately 305 ft of frontage and 205 ft of depth. There is plenty of room for commercial redevelopment. The VPD is 10,900 as of 2022.

Data Room Click Here to Access

Financial Summary (Actual - 2023) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income (CAD)
Annual $99,999
Annual Per SF $9.99
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual $99,999
Annual Per SF $9.99
Operating Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts Under Contract

Price $319,950 CAD
Price Per Room $15,998 CAD
Sale Type Investment
Cap Rate 16%
Sale Conditions Business Value Included
Property Type Hospitality
Property Subtype
Hotel
Building Class C
Lot Size 1.43 AC
Building Size 7,724 SF
No. Rooms 20
No. Stories 1
Year Built 1956
Parking Ratio 2.2/1,000 SF
Corridor Exterior

Amenities

  • High Speed Internet Access

Room Mix Information

Description No. Rooms Daily Rate SF
Guest Room 20 $51.19 CAD -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
8318-10-480-002
Land Assessment
$133,241 CAD (2024)
Improvements Assessment
$133,810 CAD (2024)
Total Assessment
$267,052 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023

zoning

Zoning Code CC (Commercial Hospitality)
CC (Commercial Hospitality)
  • Listing ID: 33398355

  • Date on Market: 2024-06-15

  • Last Updated:

  • Address: 705 Iowa Ave W, Marshalltown, IA 50158

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