Comfort Suites - IA

Property Description: UNDER CONTRACT! This Comfort Suites in Iowa has 66 keys, 3 stories, and interior corridors. This cash flowing property is well located close to multiple casinos, large corporate headquarters and universities in a major metropolitan area. It is easily accessible of the Interstate. Priced at 2.9 Times Average 3 Year Revenue. A new owner can increase room revenue by completing the Comfort Suites PIP and driving ADR to $92.85. Projected room revenue after PIP is $1.7 million. New management can control costs to increase NOI to 35% of revenue. Projected revenue after PIP and new buyer NOI yields a Cap Rate of 14.2% and Cash on Cash Return of 30.0%. 2.9 RRM Including the Cost of PIP.