Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap's National Hospitality Division and RI Marketplace are pleased to present for sale to quali?ed investors the Baymont by Wyndham Keokuk (‘Hotel’ or ‘Property’). The Baymont by Wyndham Keokuk is located at 325 Main Street in Keokuk, Iowa, just off U.S. Highway 218. The 80-room, ?ve-story building was constructed in 1968 (renovated in 2022) and is situated on a 0.96-acre lot. The Property maintains a variety of common area amenities, including a business center, ?tness center, laundry facility, indoor pool, meeting event space, and breakfast area. The Property is projected to exceed $876,000 in room revenue while maintaining more than $287,000 in net operating income in 2023, or 32.7% of gross revenues, after a four percent capital replacement reserve. Focusing on operational ef?ciency, a new owner can see a signi?cant boost in Hotel performance through additional revenue management strategies. The Hotel is offered fee simple, unencumbered by a management contract and debt. Iowa’s southernmost city and county seat of Lee County, Keokuk is located where the Des Moines River meets the Mississippi. Keokuk, along with the city of Fort Madison, is a principal city of the Fort Madison-Keokuk micropolitan area. Manufacturing and health care dominate the local economy in terms of output, with Henniges Automotive, Roquette America, and Keokuk Health Systems ranking as the city’s top employers. Many attractions are scattered throughout the region in and around Keokuk, most notably of which are the Lock and Dam No. 19 and the Grand Theater. The Mississippi River lock and dam began operating its hydroelectric power plant in 1913 as the largest single powerhouse electric generating plant in the world. Another prominent historical construction in Keokuk, the Grand Theater, was modeled after theaters in Chicago and built on the foundation of the Keokuk Opera House. Other important historical sites include Keokuk National Cemetery, Keokuk Veteran’s Memorial, Miller House Museum, and the George M. Verity River Museum.