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$ 925,000
Est. payment | /mo
7,584 SqFt
$ 925,000
Est. payment | /mo
7,584 SqFt
Key Details
Property Type Commercial
Sub Type Bus / Bus w/Real Est
Listing Status Active
Purchase Type For Sale
Square Footage 7,584 sqft
Price per Sqft $121
MLS Listing ID 12697602
Annual Tax Amount $13,590
Tax Year 2024
Lot Dimensions 1.69 acres
Property Sub-Type Bus / Bus w/Real Est
Property Description
Well-maintained, family-owned 29-room independent motel located along heavily traveled Lincoln Way in Clinton, Iowa. Property includes a spacious 3-bedroom manager's apartment with full kitchen and living area. Stable year-round demand supported by multiple major area employers. Significant buyer advantage with an assumable SBA loan (subject to SBA approval) featuring approximately $480,000 remaining, 28 years amortization, and a fixed 3.75 interest rate. Recent improvements include new curtains and valances (2023), updated hardwood flooring in all ground-floor guest rooms (2023), refinished bathtubs (2024), and a new commercial-grade water heater (2026). Guest amenities include complimentary fiber Wi-Fi, a covered gazebo with grill, and an on-site dog run/garden. No franchise fees. Excellent opportunity for an owner-operator or hands-on investor with additional upside through management, marketing, and light property updates.
Location
State IA
County Clinton
Area Iowa - Clinton
Interior
Cooling Wall Sleeve
Fireplace N
Exterior
Roof Type Composition
Building
Dwelling Type Bus / Bus w/Real Est
Structure Type Concrete
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Listed by Max Gellerman of Hawkeye Commercial Real Estate