2ND MAJOR PRICE REDUCTION – OWNERS ARE READY TO SELL – Now offered at $460K AND SELLER WILL DISCOUNT FOR ALL CASH-NO DEBT DEAL

With 27 keys, this offering is ideal for an owner operator or family operation.    Offered $17K per key, the new price represents 50% less than the original cost of nearly $1M.  If the small market lifestyle (where you can have a direct impact on the area) is interesting to you, so should consider this offering.

Revenue for the past 3 months has stabilized to pre-Covid (2019) levels. 

 

Executive Summary

SOLD!!

NEW PRICE – SECOND PRICE REDUCTION

SELLER WILL DISCOUNT FOR ALL CASH-NO DEBT DEAL

With 27 keys, this hotel is ideal for an owner operator or onsite partner.  It is unusual to find interior corridor hotels offered for sale at $17K per key, especially if it was built in 2004.  Original cost was nearly $1 Million.  The hotel features king and queen beds, keyless entry, whirlpool suites, flatscreen TVs,  and a suite with a living area and separate sleeping room.  Herington, Ks, located at the junction of Hwys 4, 56 and 77 in central KS,  is a rural community of about 2600, located 30 minutes south of Junction City (Fort Riley) and I-70.  Salina, KS (pop. 60,000) is a 1 hour drive to the northwest and Manhattan KS (KS State University) is 45 minutes northeast.   (Herington is a hub for the Union Pacific Railroad Corporation and several other key employers, such as the Herington Hospital).    The Herington Inn was built by a number of local civic minded investors, none of which has hotel experience, in order to provide the community with a nice lodging facility.

Property Details

Address
565 US Hwy 77, Herington, KS 67449
Price
$460,000 
Rooms
27 
Price Per Key
$17,034 
Property Type
Limited Service - independent 
Revenue
Call for CA 
Website
 

Hotel Description

  • Price Reduced Again by $130K
  • Revenue is stabilizing to pre-Covid levels
  • Original cost was nearly $1M.
  • 27 keys, perfect for family operation
  • Indoor corridor
  • Keyless entry
  • Flatscreen TVs
  • Whirlpool suites
  • Attractive continental breakfast area….can double as meeting room
  • Microwaves & minifridges
  • Truck parking
  • No pool or elevator to maintain
  • Guest Wifi

Contact a Broker

Brent Jaynes Headshot

Brent Jaynes

8725 Rosehill Road, Suite 300
Lenexa, KS 66215
Phone: 913-499-4731
Fax: 913-499-4771