740 Iowa St - Hospitality FOR SALE


Lawrence, KS 66044- HiIlcrest
$4,200,000 USD
817-821-1536
740 Iowa St, Lawrence, KS for Sale
$4,200,000 USD
Hospitality - FOR SALE
1/9
null | Request Cap Rate

740 Iowa St
Lawrence, KS 66044
HiIlcrest


HIGHLIGHTS

  • Priced at $62.7K per key, well below replacement cost with $334K NOI at a 8% cap rate
  • $190K in recent renovations including rooms and amenities
  • Upside potential as RevPAR Index is 90% of the comp set
  • Prime location near Kansas City Metro at University of Kansas-Lawrence Campus
  • Strong demand generators: university, healthcare, and industrial employers

OVERVIEW

Bharat Patel of NewGen Advisory presents the Baymont by Wyndham in Lawrence, Kansas - a compelling investment opportunity in a stable, university-driven market. Offered at $4,200,000, this 67-room interior-corridor hotel delivers a strong capitalization rate of 8% and an annual net operating income of approximately $334,000 based on 2023 & 2024 room revenue. The property benefits from capital expenditures of $190K in last years and features updated guestrooms, RFID key locks, a fitness center, an indoor pool, business center, and 70 on-site parking spaces. Operating under the Wyndham franchise, the hotel also includes business and honeymoon suites to appeal to a broad guest demographic.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$130 USD /SF

# OF ROOMS

67

PRICE/ROOM

$62,687 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Baymont by Wyndham Lawrence

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1997

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

C-5

APN/PARCEL ID

023-067-36-0-20-07-004.01-0

ASK ABOUT THIS PROPERTY

Bharat Vakil-PatelNewGen AdvisoryMore Info
817-821-1536

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Bharat Vakil-PatelNewGen AdvisoryMore Info
817-821-1536

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