Hotel Brokers of America is pleased to exclusively offer the Upscale All-Suite Extended Stay Residence Inn, located in Topeka, KS. Topeka is the State Capital of Kansas with multiple demand drivers including Government, corporate, and leisure.

Highlights & Location:

• The hotel is Institutionally Owned and Managed Resulting in much Higher than Normal Expenses. Any Owner-operator will quickly increase the NOI driving significant Profits. A 66 Room Residence Inn with $2M plus Revenue Should be delivering a minimum 38%-42% NOI.
• Topeka is the State Capital of Kansas with multiple demand drivers including strong Government / Corporate and Leisure.
• The Hotel has an Excellent Location in the Heart of the Business District.
• The Hotel is a Strong Performer operating #1 in ADR at $119.89 and #3 in Occupancy consistently over 72% even though it requires a full PIP from Marriott. PIP complete this hotel is poised to do significantly high Revenue by becoming # 1 in Occupancy at a $10 to $15 higher ADR.
• As of March 2024, the hotel has demonstrated a robust performance, with a trailing 12-month revenue of $2,111,000. It's worth noting that the property has a historical revenue track record surpassing $2,390,000.
• The Hotel is offered at $6,200,000 (2.94 X Revenue) Plus PIP, which places it at a highly attractive 3.72 x revenue PIP Complete, for a performing and Profitable fully renovated Residence Inn by Marriott
• At $119,000 per room, the Hotel is priced at a significant discount to new construction of a minimum of $160,000 for a Marriott Residence Inn.

THIS WILL SELL QUICKLY! PLEASE ADVISE YOUR INTEREST IMMEDIATELY

• Corporate Demand Generators: Several major corporations operate near Topeka, KS, across various sectors. Some of the prominent employers include:
  • State of Kansas: As Topeka is the state capital, the government is a significant employer in the region.
  • Stormont Vail Health: A key player in the healthcare sector, providing comprehensive medical services.
  • Blue Cross Blue Shield of Kansas: Another major healthcare provider, focusing on insurance services.
  • Goodyear Tire & Rubber Company: A significant manufacturing presence with a large tire production facility.
  • Hill’s Pet Nutrition: Known for its pet food products, contributing to the local economy through manufacturing and distribution.
  • Security Benefit: A financial services company specializing in retirement planning and investment management.
  • Westar Energy (now part of Evergy): The primary electric utility serving Topeka and surrounding areas.
  • Reser’s Fine Foods: A producer of prepared foods, employing a substantial workforce in the area.

• Major Cites:  Major cities near Topeka, KS include:
  • Kansas City, MO/KS: Approximately 65 miles east, it's a major metropolitan area with a vibrant cultural scene and numerous attractions.
  • Lawrence, KS: About 30 miles east, home to the University of Kansas.
  • Manhattan, KS: Around 50 miles west, known for Kansas State University.
  • Olathe, KS: Roughly 60 miles east, a part of the Kansas City metropolitan area.

RESIDENCE INN
TOPEKA, KS

• Priced to sell at $6,200,000 (2.94 X Revenue Before PIP)
• #1 in ADR and #3 in OCC (despite requiring PIP)
• Strong ADR Market / Interstate & Mall Location

• Motivated Seller Bring All Offers