Holiday Inn Express
Garden City,
Kansas
Property Summary
Location: 2502 E. Kansas Ave (junction of HWYS 50,156 & 83
Price: $5,600,000 all cash
Rooms: 69
Price Per Key: $81,159
Property Type: Limited Service w/continental breakfast
Revenue: $Call for Confidentiality Agreement
Property Images
Description
- Great Curb Appeal
- Attractive Lobby
- Three Floors/Interior Corridors
- Recently Renovated
- Parlor Suites w/microwave and minifridge
- 25” TV’s
- Indoor Pool and Hot Tub
- Fitness Center
- Guest Laundry
- Free HSIA
- Keyless entry
- Business Center
- Meeting Rooms
Overview
This fine offering represents one of the best cash flow listings we have encountered this year. With nearly 600K in net income, this investment generates a cap rate in excess of 10%.
Most Holiday Inn Express sales comparables yield lower cap rates and higher sales prices).
Recently renovated with new carpet, case goods, walls, furniture and soft goods, the hotel is in great condition. Historical revenue shows steady annual increases in spite of new competition. Its current market position, together with the growth of the area, should continue to support a high level of performance. Garden City and Finney County represent one of the fastest growing areas in Kansas. The resurgence of energy exploration, together with beef production, has fueled the area growth for the last ten years. Recently however, alternative energy (wind) and alternative fuel production (ethanol) have both caused a resurgence in the agricultural industry. All of the above factors also contribute to the significant growth of support businesses that service these industries. The hospitality business in Garden City looks bright in the future. Not only will you be impressed with the performance and appearance of this hotel, but also the vibrancy of the area.
Contact
Rick Hagerman ~ 913-894-5252info@leisurerealestate.com
Additonal Information
Contact Listing Broker for More Details