601 NW US Highway 24Topeka, KS 66208
Holiday Inn Express & Suites Topeka North
Formula Blue PIP complete; Premium flag with dramatically increasing revenue
Overview
We don't see these very often.......that is, a larger market Holiday Inn Express & Suites with a recently completed Formula Blue PIP and still priced at less than $105K per key. Revenues and net incoming are increasing dramatically, which is a testimony to the renovation and to the market. Whether you are an owner-operator or expanding your portfolio, this acquisition will provide a premium flag and require limited CapEx.
Investment Highlights
# Stories
4
Year Built
2010
- 81 keys
- Built 2010
- Recently completed Formula Blue PIP
- Dramatice increase in revenue; RevPar increase of 25% YTD through Oct
- No PIP inspection fee
- New 15 year license available
- 41 Executive Suites of various types
- Offered at less than 105K per key, 30% less than a new build
- Attractive exterior lines
- Head-to-head competitors are miles away
- Growing area with newer Dillon's and Walmart Super Center nearby
- On of the largest Goodyear plants in the country nearby
- Hill's Pet, JM Smucker's manufacturing nearby
- Fitness Center
- Indoor Pool
- Meeting Room (600')
- Newer retail users added in front of the hotel, such as Starbucks and IHOP (on pad sites, independently owned)
Photo Gallery
601 NW US Highway 24Topeka, KS 66208
One of the largest Goodyear distribution plants in the country
State Capitol Building and grounds
Berry Manufacturing, JM Smucker manufacturing and newer retail nearby
Leisure Real Estate Advisors, LLC
Listing provided by Revere CRE