Investment Overview

Marcus & Millichap is delighted to offer an exclusive investment opportunity in Story City, Iowa, with the listing of a 59-room Comfort Inn. Built in 2003 and recently fully renovated, this property has minimal PIP expectations for an incoming buyer, ensuring a smooth transition of ownership. The hotel, currently owned and managed remotely, presents significant operational upside with a more hands-on approach. Key Features: Prime Location: Situated directly off Interstate Highway 35, the Comfort Inn provides easy access for travelers, being strategically located just north of Des Moines. Modern Amenities: The hotel features contemporary accommodations, including a complimentary breakfast, fitness center, indoor pool, and meeting facilities. Renovated Property: Recently undergone full renovations, the hotel offers modern and updated facilities with minimal PIP requirements for the new owner. Development and Market Potential: Story City is experiencing substantial growth and development, with numerous projects currently underway or planned for the near future. These include a $20 million Waste Water Treatment facility upgrade, already approved by the city with material shipments delivered to the site. Additionally, there are ongoing developments of apartments, self-storage units, and single-family homes, which are expected to drive increased visitor traffic and demand for accommodations. Operational Upside: The hotel is currently managed remotely, providing a significant opportunity for operational improvements and increased profitability with a more hands-on management approach. With its strategic location and the city's ongoing development projects, the Comfort Inn is well-positioned to capitalize on the growing demand for hospitality services in the area. Investment Summary: Story City's hospitality market is exceptionally conducive to investment, driven by its strategic location along Interstate Highway 35 and the ongoing and upcoming development projects. The Comfort Inn's modern amenities, recent renovations, and significant operational upside make it an attractive opportunity for investors looking to capitalize on a thriving market. This property represents a sterling opportunity for those keen on investing in a flourishing market with promising growth prospects.