deal image
12601 W 95th StLenexa, KS 66215
Radisson Hotel Lenexa Overland Park
Asset ClassHotel & Hospitality
# Keys297
Premium Upscale Property with Quality Construction and Extensive Amenities
overview of deal

Overview

The Radisson Hotel Lenexa Overland Park Hotel is a one-building, upscale Radisson franchised Hotel featuring 286 in-service, spacious guest rooms, along with 11 out-of-service rooms being used for storage, totaling 297 rooms spanning four stories. Constructed with quality materials, the Hotel remains in excellent condition and is well-equipped with several amenities, including an on-site restaurant, on-site lounge/bar, indoor heated pool and hot tub, fitness center, business center, on-site guest laundry, just over 17,000 square feet of meeting/event space, outdoor pavilion and a breakfast area.

Access the Data Room

Investment Highlights

Prime Location with Easy Access to Market Demand Generators: With convenient access to Interstate 435 and Interstate 35, Lenexa offers a wealth of amenities and attractions. The 343-bed Overland Park Regional Medical Center is located just under two miles away, providing essential healthcare services to the community. Additionally, AdventHealth Shawnee Mission, a 504-bed hospital in nearby Merriam, bolsters the area’s healthcare offerings, situated only four miles away. Johnson County Community College sprawls across 234 acres, serving over 18,000 students and enriching the intellectual landscape. Nearby Sar-Ko-Par Trails Park covers 53

acres, featuring Lake Lenexa for outdoor activities, appealing to nature enthusiasts. Cultural experiences abound with the Johnson County Museum showcasing local heritage since 1967, while families can enjoy interactive fun at Deanna Rose Children’s Farmstead, home to over 250 animals and historical exhibits. Nature lovers can explore the diverse landscapes of the 300-acre Overland Park Arboretum & Botanical Gardens. The dynamic Kansas City Power & Light District, spanning nine city blocks, offers vibrant entertainment and dining options, contributing to the lively atmosphere surrounding the property. Situated less than 15 miles from Downtown Kansas City, the hotel connects guests to the city’s entertainment scene, including sports venues like GEHA Field at Arrowhead and Kauffman Stadiums, as well as cultural attractions such as the Nelson-Atkins Museum of Art and the Kauffman Center for the Performing Arts.

 

Exceptional Banquet Space- Elevating On-Site Experience: The property boasts over 17,000 square feet of banquet space, complete with a spacious hall capable of accommodating over 900 guests. These versatile meeting and event spaces cater to a range of occasions, from corporate conferences to wedding celebrations. With this availability, guests can conveniently enjoy on-site accommodation, elevating their overall experience.

 

Climbing Submarket RevPAR: Twelve-month RevPAR has risen at an exceptionally strong rate. As of April, the 12-month average RevPAR in the Lenexa & Overland Park hotel submarket was up more than 5 percent, in line with the similarly impressive market-wide average. As a result, a buyer could foresee various advantages in purchasing a hotel asset in this submarket, including heightened room revenues, excess capital for renovations to maintain strong market positioning, and operational benefits such as improved cash flow and economies of scale.

 

Significant Room Revenue Upside Potential: The Radisson Lenexa Overland Park Hotel currently has a RevPAR index of 38 percent, indicating room for improvement. However, by implementing various revenue and marketing strategies, a new owner could potentially achieve a RevPAR index of 45-50 percent. This significant increase in RevPAR index could result in top-line room revenues of approximately $3.5-4.5 million dollars. The Hotel is projected to exceed $3.6 million in room revenue with a net operating income of over one million dollars or 28.4 percent of gross revenues after a 3 percent management fee in year one of new ownership.

 

Upscale Brand Highlights: Radisson, a distinguished member of Choice Hotels International, Inc., offers in-house restaurants and versatile event and meeting spaces, catering to both business and leisure travelers. Additionally, with its global presence and expansive network, Radisson ensures a consistent and exceptional experience for guests worldwide, making it the preferred choice for discerning travelers seeking luxury and convenience.

 

Unencumbered Offering: This offering provides an investor the ability to acquire the Property unencumbered by management or existing debt, presenting an exceptional operational opportunity for robust revenue growth through strategic implementation of aggressive yield management strategies.

Operating Summary

TTM April 2024
Year 1 ProForma
Occupancy
35.9%
41.2%
ADR
$77.60
$81.48
RevPar
$27.82
$33.59
Room Revenue
$3,024,120
$3,641,648
Total Revenue
$3,370,628
$3,998,551
Total Expenses
$2,675,070
$2,863,650
Management Fee
$101,119
$119,957
NOI
$695,558
$1,134,901
deal gallery image
deal gallery image
deal gallery image
12601 W 95th StLenexa, KS 66215
OVERLAND PARK REGIONAL MEDICAL CENTER
JOHNSON COUNTY COMMUNITY COLLEGE
SAR-KO-PAR TRAILS PARK
ADVENTHEALTH SHAWNEE MISSION
LENEXA SPINACH FESTIVAL
JOHNSON COUNTY MUSEUM
DEANNA ROSE CHILDREN’S FARMSTEAD
OVERLAND PARK ARBORETUM & BOTANICAL GARDENS
KANSAS CITY POWER & LIGHT DISTRICT

Sales Team

Chris GomesExecutive Managing Director Investments(972) 786-2719chris.gomes@marcusmillichap.com
Colby Haugness - Kansas Broker of Record Lic #: 00241410 // 7400 College Blvd., Ste. 105 | Overland Park, KS 66210 Colby.Haugness@marcusmillichap.com

Inquire

Listing provided by Revere CRE