Flamingo Inn | 705 Iowa Ave W
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Flamingo Inn 705 Iowa Ave W
20 Room Hotel Marshalltown, IA 50158 $225,000 ($11,250/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.
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
- Operating and Financials
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| 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 | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Amenities
- High Speed Internet Access
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 20 | $36.00 | - |
PROPERTY TAXES
| Parcel Number | 8318-10-480-002 | Total Assessment | $187,800 (2024) |
| Land Assessment | $93,700 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $94,100 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
8318-10-480-002
Land Assessment
$93,700 (2024)
Improvements Assessment
$94,100 (2024)
Total Assessment
$187,800 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | CC (Commercial Hospitality) |
| CC (Commercial Hospitality) |
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Flamingo Inn | 705 Iowa Ave W
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