600 Allen St Andover, KS 67002-7938

Property Details for 600 Allen St

Year built

2006

Lot size

2.12 lot acres

Property size

43,958 SF

Property type

Motels

APN

008-309-30-0-10-02-006.00-0

APU

83093001002006000

Description

This exceptional 77-key Holiday Inn Express & Suites in Andover, Kansas, presents a compelling investment opportunity. Priced at $6,900,000 ($89,610 per key), this property boasts four consecutive years of revenue growth and a trailing twelve-month average daily rate (ADR) that's $7 higher than the previous year (July 2024 data). The hotel is situated on a 2.1-acre lot near I-35, offering convenient access to Wichita's vibrant attractions and a strong corporate base. Guest rooms are well-appointed and include a variety of suite configurations featuring wet bars, separate bedrooms, and sleeper sofas. This premier flag in the Wichita Metro area (population approx. 650,000) benefits from its proximity to Wichita State University, the Wichita Art Museum, Flint Hills National Golf Club, and the Sedgwick County Zoo. The hotel also enjoys strong corporate demand driven by major employers such as Sherwin-Williams, Flight Safety International, Hawker-Beechcraft, Boeing, Coleman, Koch Industries, Raytheon, Cessna, Spirit Aerosystems, and Bombardier Aerospace. The property is priced below replacement cost and the IHG Blue Formula PIP is nearly complete, ensuring a smooth transition for new ownership. This is a rare chance to acquire a high-performing hotel in a thriving market with significant upside potential. The nearly completed IHG Blue Formula PIP ensures a seamless transition for the new owner. This represents a strong value proposition in a desirable location with proven revenue generation.

Location Insight

City

Andover

County

Butler

State

Kansas

Longitude

-97.1392

Latitude

37.6777

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments