Basics
- Date added: Added 8 months ago
- Category: Hotel
- Type: Limited Service
- Status: For Sale
- Guestrooms: 49
- Bedrooms: 49
- Bathrooms: 49
- Half baths: 2
- Total rooms: 55
- Floors: 2
- Lot size, sq ft: 69696 sq ft
- Year built: 1997
- Price Per Key: $50,000
- Cap rate: 14.36%
- NOI: $354,627
- Occupancy: 56.9%
- Broker: Hotel Brokers of America
- Agent: Subhash Naik
- Agent Phone: 661-808-4998
- Agent Email: Deals@hbofamerica.com
- Website:: https://hotelbrokersinc.com/
Description
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Description:
Hotel Brokers of America is excited to exclusively offer this 49-room Quality Inn located off Interstate 70 (one of the most heavily traveled highways) connecting states across the US with the property sitting just East of Denver, Colorado. Highlights & Location: The property is priced to sell at $2,450,000. With a highly attractive 2.63x revenue. This equates to an incredible opportunity at just $50K per room key, and an impressive 14.36% CAP Rate. Property is an excellent opportunity for an owner-operator to take over a well-established hotel with significant potential for growth with the right marketing and management strategies, you can increase the hotel's revenue and profitability even further. The property is being sold at $50k per key (well below today’s construction costs) Opportunity to Further Drive Hotel Revenues by increasing ADR; the revenue will continue to rise in the upcoming years and is projected to bring in $1M when managed correctly. Market Demand Generators: Northwest Kansas Technical College Well known tourist attraction known as the "World's Largest Easel" Hunting, Fishing, Regional agriculture, oil and gas, transportation, and business travelers Local events such as Giant Van Gogh Painting, the High Plains Museum, the Goodland Cowley Festival, the Flatlander Fall Festival, and the Northwest Kansas District Free Fair LOAN & FINANCING: This hotel qualifies for SBA 7A with 20% down or a conventional loan with 30% down. H3O Capital, in collaboration with Hotel Brokers of America, will present financing options tailored to your needs. H3O Capital with Hotel Brokers of America will be able to directly connect a new buyer with a direct lender. Kansas Broker of Record: Brian Brockman Bor@bangrealty.com KS DRE 239819 Bang Realty-Kansas Inc Investment Highlights Priced to sell at $2,450,000 First-Time Buyer Opportunity/Owner Operator 2.63X Revenue 14.36% CapRate $50k Per Room