AmericInn Hotel & McNally's Foods For Sale in Grinnell, Iowa
A 57-key AmericInn by Wyndham hotel on Interstate 80 — under an hour from Des Moines — and McNally's Foods, the oldest full-service grocer in downtown Grinnell. Acquire each asset individually, or together as a combined $3.9M portfolio.
AmericInn by Wyndham
A 57-key, branded midscale hotel positioned directly on Interstate 80 at Exit 182 — the primary east-west corridor linking Des Moines and Iowa City — under one hour from downtown Des Moines. Recently renovated under current ownership, the asset offers a new operator stabilized cash flow with clear rate upside in a supply-constrained submarket.
- Prominent Interstate-80 frontage at Exit 182 — direct visibility and signalized access, under one hour from Des Moines.
- Attractive basis of $47,368 per key — well below replacement for a branded, recently renovated asset (~$450K in capital improvements complete).
- Durable corporate and university demand from Grinnell College, Brownells and Grinnell Mutual, in a submarket with no new supply underway.
McNally's Foods
The oldest full-service grocery store in Grinnell, anchoring the downtown Main Street retail corridor. Offered as fee-simple real estate together with the operating business and FF&E — a turnkey acquisition delivering defensive, daily-needs cash flow with a clear, already-licensed path to margin expansion.
- Fee-simple real estate conveyed with an established operating business and FF&E in a single, turnkey transaction.
- Defensive, daily-needs revenue with identifiable margin expansion across already-licensed beer, wine and spirits.
- ~93 residential units delivering within one block, expanding the downtown resident base.
Two complementary assets. One institutionally anchored market.
Grinnell, Iowa punches far above its size. The trade area is anchored by a Top-15 national liberal-arts college with one of the largest per-student endowments in the United States, plus the headquarters of Grinnell Mutual and Brownells — institutional demand that does not track the broader economic cycle. Pair the lodging that captures the market's visitors with the necessity grocery that serves its residents: approximately $290K of in-place NOI today, with further upside across both pro formas as operations stabilize.
Why Invest in Grinnell, Iowa
A resilient central-Iowa micro-market on the Interstate-80 corridor, in the heart of Poweshiek County.
Grinnell is the seat of Poweshiek County and home to Grinnell College, a private liberal-arts institution ranked among the top 15 nationally, with roughly 1,750 students and a permanent demand base of faculty, families, alumni and prospective students. That academic anchor is reinforced by major local employers including Grinnell Mutual Reinsurance, firearms-accessories global headquarters Brownells, and Jeld-Wen.
The properties sit on the Interstate-80 corridor connecting Des Moines and Iowa City — the AmericInn directly at Exit 182, under an hour from downtown Des Moines, and McNally's Foods in the walkable downtown Main Street district. The southeast-Iowa hospitality submarket shows no new hotel rooms under construction, supporting stable competitive positioning, while downtown Grinnell is absorbing new multifamily development that expands the daily-needs customer base.
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Showings are by appointment only. Please do not contact or visit the property or staff directly — reach out to Dharam Chaudhari to arrange a private, confidential tour.
McNally's Foods is offered at $1,200,000 plus inventory, conveyed separately at close. Information has been obtained from sources deemed reliable but is not verified or guaranteed; figures are estimates and subject to change. Prospective purchasers should conduct independent due diligence.