620 2nd Avenue SE

    Cresco, IA 52136
    • $365,000
    • STATUS: Active
    • ON SITE: 183 days
    • MLS #: 1902688
    UPDATED: 75 min ago
    $365,000
    • 0
      BEDS
    • 1.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,847
      SQFT
    • $53
      $/SQFT
    Neighborhood:
    Type:
    Business Opportunity
    Built:
    1958
    County:

    School Ratings & Info

    Description

    Beautiful well maintained twenty rooms Cresco motel located on NE side of Iowa on Iowa Highway 9 in town of Cresco, IA. Current owner has been owning for last ten years and decide to retire. Wood exterior of building is well maintained and recently new cement side was added. Room revenue is consistence for last several years and potential to increase the room revenue for an aggressive new family operated owner. Modern living quarters has four bedrooms with one and a half bath equipped with kitchen. Cresco motel is well priced at $380,000, 2.4 times the room revenue with attractive cash flow. Current bank is willing to finance to a new qualified owner.

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    © 2019 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Graf Home Selling Team & Associates. Data last updated: 2019-10-16T18:42:35.21.
    www.cedarrapidsareahomes.com/homes/93729441

    620 2nd Avenue SE Cresco, IA 52136

    • Price: $365,000
    • Status: Active
    • Updated: 75 min ago
    • MLS #: 1902688
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.19
    Acres
    6,847
    SQFT
    $53
    $/SQFT
    1958
    Built
    Neighborhood:
    OT-E (East Of I-380)
    County:
    Howard
    Area:
    OT-E (East Of I-380)
    Property Description
    Beautiful well maintained twenty rooms Cresco motel located on NE side of Iowa on Iowa Highway 9 in town of Cresco, IA. Current owner has been owning for last ten years and decide to retire. Wood exterior of building is well maintained and recently new cement side was added. Room revenue is consistence for last several years and potential to increase the room revenue for an aggressive new family operated owner. Modern living quarters has four bedrooms with one and a half bath equipped with kitchen. Cresco motel is well priced at $380,000, 2.4 times the room revenue with attractive cash flow. Current bank is willing to finance to a new qualified owner.
    Exterior Features

    Construction Methods Frame Lot Size 1.19 Acre Roof Shingle Asp

    Interior Features

    Basement YN Yes Ceiling Height 7Ft-10Ft Flooring Carpet Heating Cooling Electricity HeatWindow/Wall Air

    Property Features

    Building Description Multi Tenant For Lease No For Sale Yes Gross Tax 4822 Miscellaneous Sign Net Tax 0 Owner Pays Re TaxInsuranceImprovmentJanitorialHeatingWaterElectricityTrash Collection Possession At Closing Power 220 Volt Property Sub Types Business Restricted Listing No Sale Includes BuildingBusinessLandLicense Special Purpose Hotel/Motel Terms Cash Trade Bldg Business Name Cresco Motel Traffic Count 1001-5000 Utilities ElectricGas Zoning Comm

    Listing information © 2019 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
    Listing provided courtesy of Ashok Parikh of Skogman Realty Commercial.
    © 2019 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Graf Home Selling Team & Associates. Data last updated: 2019-10-16T18:42:35.21.
     
    The Graf Home Selling Team & Associates
    1190 Twixt Town Rd NE
    Cedar Rapids IA, 52402