3800 Kellogg Dr Wichita, KS 67213-2227
- Hotels
- 60,416 SF
- 2.09 lot acres
Current Use by Public Records
- Hampton Inn / Hotel
- Best Western Plus Wichita West Airport Inn / Hotel
- Lucky Spot Wichita Ks / Restaurant
Property Details for 3800 Kellogg Dr
- Year built
- 1995
- Lot size
- 2.09 lot acres
- Property size
- 60,416 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 087-137-25-0-23-02-020.01
- APU
- 87137250230202001
Description
This exceptional 121-key Best Western Plus hotel presents a compelling investment opportunity in Wichita, Kansas. Built in 1995, this well-maintained property boasts modern amenities and benefits from a prime location near Dwight D. Eisenhower National Airport, providing convenient access for travelers. A complimentary airport shuttle enhances guest convenience, extending service to other local attractions including Tanganyika Wildlife Park and the Sedgwick County Zoo. The hotel's strategic position at the intersection of Highway 400 and I-235 places it near major employment centers such as Cessna Aircraft, Flight Safety International, John Deere Training Center, Bombardier Learjet, Spirit AeroSystems, and Downtown Wichita. This proximity to significant demand generators ensures consistent occupancy. Since 2022, the hotel has achieved an impressive average daily rate (ADR) increase of over $6 while maintaining occupancy. However, a Smith Travel Research report indicates further upside potential, particularly in occupancy, which currently lags the competitive set by approximately 10%. Despite this, the ADR remains competitive, exceeding the comp set by over $30. The asking price is $7,750,000, significantly below replacement cost, making this a truly attractive investment in a robust hospitality market. The property's strong brand affiliation and strategic location offer a compelling combination for investors seeking significant return on investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,225,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,315,000
- 6.5%
- $1,280,000
- 7%
- $1,370,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,330,000
- Geo Method
- $1,385,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,080,000
- Retail
- $1,170,000
- Mixed-Use
- $1,240,000
- Hospitality
- $1,235,000
- Educational
- $1,255,000
- Residential Income
- $1,210,000
- Energy
- $1,435,000
- Income-Based Land
- $1,100,000
- Food Service
- $1,230,000
Location Insight
- Map
- Local Demand
- City
- Wichita
- County
- Sedgwick
- State
- Kansas
- Longitude
- -97.3874
- Latitude
- 37.6744
- CBSA code
- 48620
- CBSA name
- WICHITA, KS METROPOLITAN STATISTICAL AREA
