1726 Lake Ave, Storm Lake,
IA 50588

MLS # 211006

$1,999,000

  • N/A
  • N/A
  • N/A
  • Closed
Closed

General Description

The Quality Inn is surrounded by retail, restaurants, and all the recreational amenities Storm Lake has to offer. The hotel's close proximity to Buena Vista Univ and other major businesses in the community offer exceptional opportunity for partnerships. Gross revenue and NOI exceptional in 2021. Solid demand. Kings Point Water Park and the lake itself have elevated overall tourism to the region. The Quality Inn benefits greatly from these visitors, including spikes in summer travel. The hotel dons a pool with two suites. It is one of only two hotels in Storm Lake that offer the opportunity for pool access. MAJOR investments made including but not limited to new beds/furniture, carpet, and a new roof in 2021. All investments and upgrades required to meet Quality Inn franchise standards have been met. Take advantage of Iowa's low hotel transfer rate. The convenient location near HWY 71 offers even more marketability. Financials and reports available on request.

Legal: 34-91-37 STORM LAKE CORP WASH PARC NE COR NE NW
Sold Price: $1,757,272
Sold Date: 06/27/2022
Status: Closed

Property Information

211006

$1,999,000

Sale

Commercial

COMMERCIAL

1726 Lake Ave

Storm Lake

IA

50588

$1,757,272

36702

2020

1997

Utilities

No

LISTED BY

RE/MAX Preferred, Jeff Carlson

PROPERTY LOCATION

MORTGAGE CALCULATOR

RE/MAX Lakes Realty - Licensed in Iowa and Minnesota. Each Office Independently Owned and Operated

RE/MAX Lakes Realty

Licensed in Iowa and Minnesota. Each Office Independently Owned and Operated

Ask About this Property #211006

MARKET WATCH

Open House(5)
New Construction(109)
New Listing(55)
Price Adjustment(36)
Price Decreased(58)

share

COMMUNITY

Central Emporium

Central Emporium in Arnolds Park

The Central Emporium is the best variety of shops and attractions, all under one roof! This location features shops for swimsuits, sweatshirts, jewelry, decorations for your home and some things that are just for fun. Find sweet treats at the candy store, enjoy a lakeside lunch or cocktail at the lower level patio bar, or have dinner with an amazing view of West Lake. Make sure to stop at the Central Emporium on your next Okoboji summer vacation.

Real Estate and MLS Homes For Sale in Arnolds Park Find more about Arnolds Park Learn More Here

Burger & Company

Burger & Company in Spirit Lake

Gourmet Burgers, Spicy Chicken Thigh Sandwiches, Lobster Rolls on Friday & Saturday, Cubans, Hot Tots, Rosemary Sea Salt Fries, Beer Battered Cheese Curds, Scrumptious Milk Shakes, Crisp Salads, Huge Cookies & More!

Real Estate and MLS Homes For Sale in Spirit Lake Find more about Spirit Lake

West Boutique

West Boutique in Okoboji

West Boutique located at Okoboji Boat Works Marina carries all of the latest fashions for women of all ages and sizes.
Available brands: Free People, Anama, Velvet Heart, KUT Denim, Articles of Society, Grace in LA, Lush, Willow & Clay, Pink Martini, Pixie Mood, and more!

Real Estate and MLS Homes For Sale in Okoboji Find more about Okoboji

NEWSLETTER