550 Florence St Wichita, KS 67209
- Hotels
- 17,160 SF
- 0.98 lot acres
Current Use by Public Records
- Economy Hotel Wichita 2 / Hotel / Inn
- Economy Hotel Wichita | Florence St. / Hotel
Property Details for 550 Florence St
- Year built
- 1983
- Lot size
- 0.98 lot acres
- Property size
- 17,160 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 087-137-26-0-14-01-004.00
- APU
- 87137260140100400
Description
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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wichita
- County
- Sedgwick
- State
- Kansas
- Longitude
- -97.3912
- Latitude
- 37.6754
- CBSA code
- 48620
- CBSA name
- WICHITA, KS METROPOLITAN STATISTICAL AREA
