201 E Diamond Dr - Hospitality FOR SALE


Salina, KS 67401
$4,500,000 USD
913-499-4731
201 E Diamond Dr, Salina, KS for Sale
$4,500,000 USD
Hospitality - FOR SALE
1/15
null | Request Cap Rate

201 E Diamond Dr
Salina, KS 67401


HIGHLIGHTS

  • I-70 location, offered at an opportunistic price of $50K per key
  • Operates well below its compset in all three STR metrics, indicating upside with renovation
  • New 15 year franchise agreement will be available, subject to PIP
  • Two large travel plazas located on the interchange. Great location for walk-in traffic

OVERVIEW

This offering represents an upper mid-market brand at $50,000 per key, at a price per key to accommodate the expected PIP.  The revenue is rebounding, and YTD 2025 is up.  This hotel operates significantly below its compset in all three STR metrics, which certainly indicates post-renovation upside.  We are personally familiar with the outstanding performance several of the local upper mid-market brands in Salina, and one should expect upside with new onsite management and the completion of the PIP. 89 keys Built 1999 Well priced to sell at $50K per key Rebounding revenue New 15 year license is available, subject to PIP Significantly underperforms the market in all three key metrics, indicating post-renovation upside I-70 location with limited competition and one mile from the junction of I-135 2 major travel plazas at the same exit 3 Floors Indoor Pool Fitness Center Meeting Room

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$101 USD /SF

# OF ROOMS

89

PRICE/ROOM

$50,562 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Quinta Inns & Suites Salina

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1996

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

C5

APN/PARCEL ID

037-36-0-20-02-009.00-0

ASK ABOUT THIS PROPERTY

Brent JaynesLeisure Real Estate AdvisorsMore Info
913-499-4731

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Brent JaynesLeisure Real Estate AdvisorsMore Info
913-499-4731

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.