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12 Rooms Motel with 6 figure income. 100%-200% Occupancy Rate

Des Moines, IA
Building with Sign
Building with Sign
Asking Price:$1,200,000
Gross Revenue:$220,000
FF&E:$40,000
Established Year:1948
Cash Flow:$125,000
Inventory:$10,000
Real Estate:$600,000
Listing ID: 2177045Listing provided by BizBuySell
BUSINESS DESCRIPTION

Within minutes of downtown and international airport in Des Moines

The motel has a total of 12 rooms. 1 room is set up as a motel laundry room. The property and all rooms have been renovated in 2019.

This is a small motel that has been successfully owner operated since 2006 by a single-family owner. The motel is fully upgraded with various renovations, current on all maintenance and upkeep, comes with newly renovated and fully furnished attached owner apartment, and has a prime central location within 10 minutes of downtown Des Moines as well as the Des Moines international airport. Within 15 minutes to Wes Des Moines where there are many large corporations with options for IT and other employment opportunities.

ONLY SERIOUS INQUIRIES will get due attention. Financials will be shared only after confirming legitimacy of the inquiry.

The motel currently runs most successfully with six figure income annually to support a full family in a family friendly and highly desirable small but growing metro of Des Moines, IA. New owners can just take it over after the purchase and run it AS IS and start enjoying income from day 1 from existing rentals.

DETAILED INFORMATION
Location
Des Moines, IA
Inventory
Included in asking price
Real Estate
Owned
Included in asking price
Building SF
3,600
Employees
1
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Total 12 rooms including 1 laundry room. Highlights: • Remodeled Manager Apartment - new attic, hardwood floors, & bath • New Building Roof, Sidings, Parking Lot • New Central HVAC system & Water Heater • New Electricals - Wiring, Panels, Breakers • New wired and wireless CCTV & Security Cameras throughout property • New Laundry sets, Snow Plover & maintenance tools • New Showers, Carpets, Lights, TVs, & Windows in all rooms • Direct Dial Phones & Premium Cable Channels in all rooms • High Speed Internet & Wi-Fi in all rooms • Auto Answering system
Competition
Current owners successfully running the motel since 2006. There is no competition for this specific motel around the area. The motel is small and has consistent all year long customers with mixed use rentals such as, daily and weekly. Many weekly customers are set up with direct billing set up with government or charity agencies, so payment is guaranteed. Most daily customers are routine customers, and the daily rate fluctuates greatly based on supply and demand. Average daily rate potential of up to $95 nightly with highest potential of $110/nightly.
Growth & Expansion
The real estate is owned and occupancy rate is 100% to 200% consistently so the new owners have options to modify the property to add more rooms and/or convert it to apartment complex. The location is central and within minutes from downtown and international airport. A visionary owner can add various income streams to the business such as a restaurant, banquet hall, U-Haul agency, convenience store, coin laundromat, UPS or mail center, electric car charging ports, etc. The opportunities are endless for those with growth mindset and ambition.
Financing
Buyers to secure their own financing
Support & Training
Current owners can offer free operation training and share all success strategies and their experiences with the new owner for up to first 3 months after the purchase. After 3 months, new owners are available via phone for occasional questions and consultations on limited need basis.
Reason for Selling
Current owners want to retire and relocate closer to adult children living out o
BUSINESS LOCATION
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Jayna Thanki
Phone Number
Jayna Thanki
Call Phone