1726 Lake Ave, Storm Lake, IA 50588

Storm Lake, IA Homes for Sale in 50588 and Real Estate MLS # 211006

$1,999,000

  • N/A
  • N/A
  • N/A
  • Closed
Closed

General Description

The Quality Inn is surrounded by retail, restaurants, and all the recreational amenities Storm Lake has to offer. The hotel's close proximity to Buena Vista Univ and other major businesses in the community offer exceptional opportunity for partnerships. Gross revenue and NOI exceptional in 2021. Solid demand. Kings Point Water Park and the lake itself have elevated overall tourism to the region. The Quality Inn benefits greatly from these visitors, including spikes in summer travel. The hotel dons a pool with two suites. It is one of only two hotels in Storm Lake that offer the opportunity for pool access. MAJOR investments made including but not limited to new beds/furniture, carpet, and a new roof in 2021. All investments and upgrades required to meet Quality Inn franchise standards have been met. Take advantage of Iowa's low hotel transfer rate. The convenient location near HWY 71 offers even more marketability. Financials and reports available on request.

Legal: 34-91-37 STORM LAKE CORP WASH PARC NE COR NE NW
Sold Price: $1,757,272
Sold Date: 06/27/2022
Status: Closed

Property Information

211006

$1,999,000

Sale

Commercial

COMMERCIAL

1726 Lake Ave

Storm Lake

IA

50588

$1,757,272

36702

2020

1997

Utilities

No

LISTED BY

RE/MAX Experience, Jeff Carlson

PROPERTY LOCATION

MORTGAGE CALCULATOR


RE/MAX Lakes Realty - Licensed in Iowa and Minnesota.  Each Office Independently Owned and Operated

RE/MAX Lakes Realty

Licensed in Iowa and Minnesota. Each Office Independently Owned and Operated

Ask About this Property #211006

share


COMMUNITY

Minervas Restaurant & Bar

Minervas Restaurant & Bar in Okoboji

Minervas is located in the Arrowwood Resort in Okoboji. Their menu offers a little of everything! From classic pastas and aged steaks to seafood everyone will leave satisfied. They offer a great "Pick Two" option for lunch and the atmosphere is excellent. They also do a pasta night that seems to be a staple in the community. Getting to pick your sauce and everything that goes into your pasta which is then made right in front of you is certainly a treat for the whole family!

Real Estate and MLS Homes For Sale in Okoboji

The Hutt Bar & Grill

The Hutt Bar & Grill in Arnolds Park

The Hutt may be a newer restaurant in the Lakes area, but they bring a big presence with them. A former owner of the Dry Dock, is the new owner of The Hutt. She has made this restaurant a great attraction to locals and tourists, being open year round. Having traditional american food means The Hutt is appealing to all! Don't miss out on their tasty breakfast during the summer, and their bloody mary's!

Real Estate and MLS Homes For Sale in Arnolds Park

Taco House

One of a kind Authentic Mexican Cuisine right here in West Okoboji! A local favorite and rated five stars by visitors young and old. Be sure to put this as a favorite on your list of places to not miss when you are vacationing in the Lakes area. Close to Terrace Park so if you are feeling up for a small walk you may walk from Terrace Park to the Taco House.

Real Estate and MLS Homes For Sale in West Okoboji

NEWSLETTER