
Address | 119 East Lodge St., Hiawatha KS 66434 (view map) |
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Price | $4,400,000 |
Rooms | 57 |
Price Per Key | 77192 |
Property Type | Limited Service |
Revenue | $1,110,000 plus incentives |
The Best Western Plus in Hiawatha, Kansas is one of those opportunities, not often seen, especially for an owner operator. The hotel features a very attractive appearance and a pleasing sense of arrival. The 57 room hotel is located in northeast Kansas a little over an hour from Kansas City on busy State Highway 36. The property is ideally located on the main highway exit into Hiawatha adjacent to a new McDonalds and a new Casey's C-Store.
The revenue continues to ramp up and the trailing 12 revenues are now over $1,110,000. The hotel also comes with two very significant tax incentives - a real estate tax abatement which saves the property approximately $70,000 per year and a transient guest tax rebate which brings in approximately $55,000 per year. In 2016, the NOI was well over $515,000!
The BW Plus is a 3 story interior corridor building with an EFIS exterior and attractive stone accents. The hotel has a oversized and well designed lobby and breakfast area, an indoor pool and hot tub, a fitness room and many large suites. The property is in excellent condition and has great visibility from the highway. You will be quite suprised when you visit this property for a tour.
HOTEL DESCRIPTION