SECOND MAJOR PRICE REDUCTION; MOTIVATED OWNER. TTM REVENUE APPROXIMATELY $2.5M. May STR available in data room.

This property has been superior performer since it was built, and continues to produce attractive top line revenue, together with a compelling net operating income.  The price point has been adjusted to accommodate the pending PIP. The Owner recently signed a new 15 year license.  The hotel is located on one of the best locations in West Topeka at the southeast quadrant of I-70 and Wannamaker Road, which is the gateway to the massive Wannamaker retail corridor.  I-70 is one of the main east-west travel corridors from the east coast to the mountain west.

Topeka, with a county population of nearly 180,000, is known for its diverse economy related to the State Capital and the state government offices.  However, it is also known for its manufacturing, medical, insurance, transportation, sports and banking/financial sectors including quite a number of international companies.  It has historically been a strong hospitality market and the underlying business fundamentals are there to sustain it.  Topeka is approximately 1 hour from Kansas City and the new Kansas City International Airport.  Major national businesses, including corporate headquarters, are located nearby, including Security Benefit Life, Frito Lay, Stormont Vail Health, Payless Shoe Source, and others.

Notable Local Employers:

• State of Kansas (6,000 local employees)
• Capitol Federal Savings
• Frito Lay Company
• Goodyear Tire & Rubber (one of the 4 largest plants in the world)
• JM Smuckers
• Hill’s Pet Nutrition
• Security Benefit Life Insurance
• Washburn University (4 year university including School of Law)
• Westar Energy
• Blue Cross Blue Shield of KS
• BNSF Railway

Other demand generators include:

• Brown v. Board of Education historic site
• Kansas Expocentre
• Topeka Performing Arts Center
• Prairie Band Casino
• Topeka Zoo
• Combat Air Museum