Avison Young Lists Development Opportunity - Topeka, KS
Seller Financing May Be Available
Residential zoning in place w/ opp for public improvement funds; housing study validated
Avison Young, as the sole exclusive agent, is pleased to offer the fee simple interest in the Re-Development Opportunity (hereinafter "Property," or "Hotel"), a Hotel located in Topeka, Kansas. The Hotel is located on Southwest Fairlawn Road in Topeka and is easily accessible with excellent visibility from Interstate 70. The Hotel is approximately 13 miles from the Topeka Regional Airport. The Property is near local and area attractions such as Washburn University, the Kansas State Capitol, Topeka Zoo, Forbes Field, the Kansas Expocentre, and more. Other attractions include the Combat Air Museum, Harrah’s Prairie Band Casino, several sporting complexes and fields, and more. There is a variety of dining and shopping near the Hotel. Local businesses include Frito-Lay Inc., Goodyear Tire & Rubber Company, Hill’s Pet Nutrition Inc., The Security Benefit Group, Westar Energy, Inc., and many more.
The Property is an interior corridor hotel composed of two buildings (one four-story, one two-story), which originally opened in 1981. The Hotel has an indoor swimming pool (with waterslide), fitness center, business center, game room, guest laundry facilities, an onsite restaurant, and over 10,000 square feet of conference space that can be divided into smaller spaces. The Property offers 147 nonsmoking guestrooms and 23 apartments (170 total rooms) with both king and queen beds. Guestrooms include standard amenities.
- 170 Non-Smoking Rooms
- Two Buildings: One Two-Story, One Six-Story; Both Interior Corridor
- Unencumbered By Brand
- Local Area Businesses: Advisors Excel, BlueCross BlueShield Kansas, AT&T, BNSF Railway, and others
- Five Year Leveraged IRR: 31.4%
Price - $3,250,000
Price per Key - $20,588
Number of Rooms - 170
For more information on this listing, contact Mike George: 312-371-6550 | [email protected]published: 11-22-2019