Wichita Economy Hotel
550 S Florence St Wichita, KS 67209
550 S Florence St, Wichita, KS, 67209
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For Sale
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Two unencumbered hotels in Wichita, Kansas with 140 rooms.
Property Size55,347 SF
Price / SF$75.88
Days on Market811
Property Features for 550 S Florence St
General Information
- Standard status
- Active
- Size
- 55,347 SF
- Property subtype
- Hospitality
Listing Agency
Avison Young - Atlanta
Listed by
Mihir Chokshi · License #406685
Source
Crexi
Added: May 1, 2024 Checked: Jul 19 at 6:36 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Avison Young - Atlanta
Investment Insights
Based on property information with market context.
The Economy Hotel Wichita Portfolio features 140 rooms across two independently branded economy hotels located in Wichita, Kansas. Offered fully unencumbered of management and debt, the portfolio allows a new owner the opportunity to retool property-level operations with fresh capital. The properties are available for purchase as a portfolio or individually. The portfolio is offered at a discount compared to the price to replicate the same assets today, offering a new investor immediate value.
Key Highlights
- Available at a substantial discount to replacement cost.
- Unencumbered of debt and management.
- Existing in‑place cash flow.
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $717.3k | $12.96 |
| − Vacancy | −$416.0k | −$7.52 |
| EGI | $301.3k | $5.44 |
| − OpEx | −$158.2k | −$2.86 |
| NOI | $143.1k | $2.59 |
55,347 SF · lease $12.96/SF/yr · vacancy 58.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$2.04M
$1.79M – $2.39M
NOI $143,101 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.70M
$11.99M – $15.99M
NOI $959,287 @ 7.0% cap · market cap 22.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Economy Hotel Wichita ...
Hotel & Motel
Economy Hotel Wichita ...
Hotel & Motel
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FAQs
What type of property is this?
Hotel - Two unencumbered hotels in Wichita, Kansas with 140 rooms.
Where is this hotel located?
The property is located at 550 S Florence St Wichita, KS.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Available at a substantial discount to replacement cost.; Unencumbered of debt and management.; Existing in‑place cash flow.
