Featuring stabilized revenue, 2021 exceeds 2019 levels.   This owner-operated property boasts attractive net income and a significant cash on cash return of nearly 40%.    A new owner can step in, run it as is, or place a new stamp of ownership on it.   A local bank is interested in financing, subject to the qualifications of the buyer.

Executive Summary

Owner operated hotels are unique, in that the new owner can become self employed and own his/her own business.   This well-priced Lyons Inn is one of those opportunities.  Furthermore, these smaller hotels are simple for individuals or families to operate, especially with no franchise, and no pool or elevator that require service.  With 27 rentable rooms, the Lyons Inn has recovered from the effects of Covid and is operating above 2019 levels.  Many newer improvements are testimony to the way the hotel shows, and to the overwhelmingly positive reviews it receives from the OTA websites.  Newer features include roof, gutters, flooring, cases goods, paint throughout, hot water heater and ice machine.  There is a 3 bay living quarters right behind the front desk for ease of operation.  The hotel offers a variety of suites.  If one were to operate the hotel in the same fashion as the current owners, they could net $70 – 80K per year after debt service.

Lyons, KS is a smaller midwestern market of just under 4,000, but with a number of significant demand generators that support the hospitality business.   Those nearby businesses and attractions include the Celebration Centre K Bar Arena, Sterling College (Sterling), Northern Natural Gas (Bushton), Oneok Hydrocarbon (Bushton), Lyons Salt Company, Compass Minerals, Jacam Chemicals, and Kansas Ethanol.   These attractions/businesses, together with the location on Hwy 56, have created a favorable environment for the hospitality industry.   In addition to the above, agriculture also plays a big roll in the statewide economy and has been relatively unaffected by Covid.   Rice County has a population of about 10,000, and the 6 county market area supports over 100,000 residents.  Hutchinson, KS, with a population of about 45,000, is a 30 minute drive.

Property Details

Address
817 W. Main St. , Lyons , KS 67544
Price
$750,000 
Rooms
27 
Price Per Key
27,778 
Property Type
Limited Service - Budget 
Revenue
Call or Email for CA 
Website
 

Hotel Description

  • 2021 revenue exceeded 2019 levels (estimated net income of $120K in 2021)
  • 27 rentable units
  • 3 bay living quarters
  • 5 suites of various configurations, including 3 queen rooms.
  • Truck parking
  • No franchise fees/ No PIP
  • Newer flooring, including LVT in 1st floor rooms
  • New roof and new guttering
  • Newer case goods
  • Newer paint throughout
  • New hot water heater, recently converted from electric to gas
  • New ice machine
  • Rebuilt soft water system

Contact a Broker

Brent Jaynes Headshot

Brent Jaynes

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