Ramada Inn by Wyndham - Hotel & Conference Center

Kansas, United States

$5850000

Sale conditions: Market

Snapshot

Short Sale

Ownership: Fee Interest
Type: Hotel
Sub Type: Full Service
Chain / Market Scale: Economy
Brand: Ramada Inn
Corridor: Interior
No. of Keys: 213
Site Size: 7.2 AC

Tower is 12 floors with steel frame and glass curtain-masonry construction
3 story buildings are brick, wood frame construction (north building is 4 floors)
4 elevators
213 hotel rooms (licensed with Ramada)
86 rentals, 15 non-licensed rooms and 71 apartments (mostly monthly), with high occupancy
Approximately 28,000 sq ft. of rentable commercial space
Total land area - 7.2 acres m-l
Approximately 40,000 sq. ft of banquet & various meeting spaces throughout
3 restaurant & lounge spaces (currently closed)
Indoor pool and seasonal outdoor pool
Leased luxury penthouse apartments (master leased) on 12th floor (square footage included above)
Interior corridor throughout
Air conditioned by 2 and 4 pipe circulating water systems, with chiller and boilers replaced in 2008.
Holley Museum of Military History (artifacts owned by a third party)
The offering is subject to short sale conditions, including lender approval

Highlights:

General Property Information


Property Name:
Property Type: Hotel
Property Sub Type: Full Service
Chain / Market Scale: Economy
Brand: Ramada Inn
Corridor: Interior
Keys: 213
Building Status: Existing
No. of buildings: 3
Stories: 12
Site size: 7.2 AC
Meeting Space: 40000 SF
Sprinklers: Wet
Parking Type: Surface
Construction Type: Reinforced Concrete
Source of Business:

Government

Group

Transient

Corporate

Leisure

Commercial

Sale Note:

"Unique" is probably the most overused word in real estate.  However, this offering fits that description in that it offers a diverse array of income streams and points of sale, (hotel, conference services, office space and apartments).  In addition, this site is one of the gateways to downtown Topeka, and could be a re-development opportunity.   The hotel is also located in an Opportunity Zone as well as a CID district, which reimburses approximately 2% sales tax back to the hotel for qualifying improvements.  

SUBJECT TO SHORT SALE CONDITIONS

Additional Links:

Location


Country: United States
State: Kansas
Postal Code:
APN/Parcel ID:
Location Type:
Location Overview:

Brokers

Brent Jaynes

Managing Partner
Leisure Real Estate Advisors, LLC

AR #PB00072896
CO #ER040019575
IA #B38804000
KS #00008591
MO #1999017315
NE #0980574
OK #158956
SD #17298

913 499 4731
bjaynes@leisurerealestate.com


Dave Jones

Principal
Leisure Real Estate Advisors, LLC

KS #00230692
MO #2009021658
IA #S61110000

913 499 4725
djones@leisurerealestate.com


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