SOLD!!!

Executive Summary

The Corporate East Hotel is an original developer/owner property located in Ulysses, KS, a small town in southwest Kansas.  This independent hotel boasts all the attributes of an attractive investment, including  top line revenue and superior net income.  The Cap Rate is 11.8% of the listing price!

The hotel, which opened in August 2009, is rated 4.5 on TripAdvisor.  There are a number of local demand generators in the area, which is known for its strong Agricultural background (beef, dairy & hogs) and the fact Ulysses is located on the Hougoton Natural Gas Fields.  Area attractions include the Adobe Museum and Wagon Bed Springs and boasts excellent pheasant hunting.

Bob Wilson Memorial Grant County Hospital serves as a regional hospital to southwest Kansas and Ulysses is also the county seat of Grant County, providing steady government business.

The hotel has a total of 43 rooms, including a variety of suites (Themed, Grand Suite & Whirlpool Suites).  The hotel features an elevator, which is quite unusual to see in a small-town property.  Guest amenities include flat screen TV’s, granite vanities, microwaves and mini fridges in all guestrooms, guest laundry and a meeting room.  There is also ample RV and truck parking.

This one features all the attributes of an attractive investment.  That is, steady revenue, superior net income and an active community.  Please call or email for a CA.

Property Details

Address
1110 E. Oklahoma Ave., Ulysses, KS 67880
Price
$2,300,000 
Rooms
43 
Price Per Key
$53,488 
Property Type
Limited Service 
Revenue
Call or Email for CA 
Website
 

Hotel Description

  • Built in 2009
  • NEW Roof & Gutters – December 2017
  • NEW “On Demand” hot water system
  • 2 floors with elevator  
  • Annually increasing revenue
  • Superior Net Income
  • 11.8% Cap Rate at listing price
  • Variety of Suites, including whirlpool suites
  • No pool to maintain
  • Flat Screen TV’s
  • Meeting Room
  • Fitness Room
  • Guest Laundry
  • Ample RV  and truck parking

Contact a Broker

Dave Jones Headshot

Dave Jones

KS
Phone: 913-499-4725