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5015 Ridgeway Drive
Harlan, IA 51537
Asking Price
$2.40M
Cap Rate
8%
Asset Type
Hotel Hospitality
Class
Class B
What's Special
5015 Ridgeway Drive, Harlan, IA 51537 <ul><li>45 rooms</li><li>2024 Occupancy: 60.33%</li><li>Parking Lot: Paved - 50 spaces</li><li>Price per Room: $55,814</li><li>ADR - 2024: $92.64</li><li>GRM: 2.90Xs</li><li>2026 Projected Revenue: $850,000</li><li>Price/sq. ft.: $220.49</li><li>Real Estate Taxes: $42,000</li><li>2025 Revenue: $828,788</li><li>4 Year Average NOI (2022-2025): $228,124</li><li>Estimated ADS: $140,000</li><li>Estimated Cash Flow after ADS: $60,000</li><li>Recent improvements include new mattresses, pl
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NOI
$80,000
Cap Rate
3.33%
DSCR
0.56
Underwater
Cash-on-Cash
-8.68%
Monthly Payment
$11,873.891
Annual Cash Flow
$-62,486.686