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    550 Florence St Wichita, KS 67209

    For Sale
    $4,200,000

    140-Room Hotel Portfolio, Wichita, KS

    Property size:
    55,347 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional value-add opportunity presents a portfolio of two independently branded economy hotels in Wichita, Kansas. Comprising a total of 140 keys across 55,347 square feet, this portfolio is offered at $4,200,000 ($75.88/sq ft). Built in 1965 and 1983, and recently renovated in 2023, the properties sit on a combined 3.28 acres and are zoned GC and LI. Located at 550 S Florence St and 5805 W Kellogg Dr, Wichita, KS 67209, these hotels are offered debt-free and unencumbered by management agreements, providing a unique chance for investors to implement their operational strategies and capitalize on the significant discount to replacement cost. The portfolio presents a compelling investment opportunity due to its existing cash flow and potential for increased profitability through operational improvements. The properties can be purchased individually or as a portfolio, offering flexibility to potential buyers. This is a rare chance to acquire a well-located, established hotel portfolio in a growing market, offering immediate value and significant upside potential.

    Property Features for 550 Florence St

    General Information

    Property type
    Motels
    Square Feet
    55,347 SF
    Lot Size
    142,877 SF

    Building Details

    Year Renovated
    2023

    HighLights

    • Two‑property, 140‑key economy hotel portfolio in Wichita, KS.
    • 55,347 square feet on 3.28 acres, offered at $4,200,000 ($75.88/SF).
    • Recently renovated (2023), debt‑free, and free of management agreements.
    • Significant discount to replacement cost with potential for increased profitability.
    • Fee simple ownership; properties can be purchased individually or as a portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Economy Hotel Wichita ... Hotel Economy Hotel Wichita ... Hotel

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.3913773
    Latitude
    37.6756145

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    FAQs

    What type of property is this?
    Motel - 140-Room Hotel Portfolio, Wichita, KS
    Where is this motel located?
    The property is located at 550 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: Two-property, 140-key economy hotel portfolio in Wichita, KS.; 55,347 square feet on 3.28 acres, offered at $4,200,000 ($75.88/SF).; Recently renovated (2023), debt-free, and free of management agreements.
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    550 Florence St Wichita, KS 67209
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    Wichita, KS 67209
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    550 Florence St Wichita, KS 67209
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