List Search

3741 N Rock Rd
Wichita, KS 67226 Northeast K-96

$4,295,000

Hotel For Sale  •  46,022 Sq Ft

Property Details

  • Property Type Hotel
  • Total Building Size 46,022 Sq Ft
  • Lot Size 1.42 ac
  • Building Class C
  • Year Built 1998
  • Tenancy Multiple
  • Zoning LC
19 Transit Score
40 Walk Score

Description

Focusing on increasing the Hotel's operational efficiency, a new owner can see a significant boost in performance, seizing a larger portion of top-line revenues. The Property has been consistently outperforming the competitive set in both occupancy and ADR, reaching a RevPAR penetration index of ±150%. Since being converted to Super 8 in 2017, the hotel has capitalized on a large increase in revenues, realizing RevPAR growth upwards of ±60%. The expenses include provisions for a ±4% reserve for capital replacement. The Hotel is offered fee simple, unencumbered by a management contract and debt.

This offering presents a new owner the opportunity to acquire a value-add asset within the Wichita MSA. An investor, looking to act as an owner-operator, can maximize profits through a reduction in management costs for the Property.

Property listed by: Colby Haughness KS License:BR000335677

Highlights

97-Room, Interior Corridor, Economy Hotel Built in 1998
Less than Five Miles from Wichita State University
150 Percent RevPAR Penetration Compared to the Market
Operating as the Premier Hotel in the Market Competitive Set
Located Within Wichita MSA

Major Tenants

Tenant SF Occupied Lease End Date
Super 8 By Wyndham Wichita North

Public Transportation

AirportDriveWalkDistance
Wichita Mid-Continent Airport 26 min - 17.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 90
Type: Surface
Included in Rent: Yes
John Yurich 630-570-2182 Marcus & Millichap
John Yurich 630-570-2182 Marcus & Millichap