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Hoke Hotel 23 E 1st Ave 24 Room Hotel Hutchinson, KS 67501 For Sale
INVESTMENT HIGHLIGHTS
- ~30% construction complete toward 23-suite boutique hotel
- RHID eligible for potential 15-20 years property tax reimbursement
- Eligible for ~$900K Federal + ~$1.1M Kansas State historic tax credits (45% total)
- Multiple development opportunities -- boutique hotel, multifamily, mixed-use, etc.
EXECUTIVE SUMMARY
Key Features:
~30% construction complete toward 23-suite boutique hotel
City-approved stamped architectural plans
Adjacent dedicated parking lot on E Sherman Street
Eligible for ~$900K Federal + ~$1.1M Kansas State historic tax credits (45% total)
Located in Qualified Opportunity Zone
Directly across from Historic Fox Theatre
RHID eligible for potential 15-20 years property tax reimbursement
Location Highlights:
Heart of downtown Hutchinson's revitalized district
Walking distance to 20+ restaurants, breweries, Fox Theatre
Near Kansas State Fairgrounds (328,000+ annual visitors)
Close to Cosmosphere Space Museum (150-200K annual visitors)
Downtown fiber broadband district
Development Options:
Complete 23-key boutique hotel with rooftop bar
Convert to 22-26 loft apartments (~$1.45/SF monthly market rate)
Mixed-use: residential over street-level retail/coworking
Short-term rental + coworking hybrid
Financial Incentives:
Historic tax credits on ~$2M qualified rehabilitation expenses
Opportunity Zone benefits (defer capital gains until 2026, eliminate on 10+ year hold)
Potential RHID property tax reimbursement for multifamily conversion
Investment Highlights
Triple-Stack Investment Benefits:
Historic Tax Credits: Up to 45% on qualified expenses (~$2M total)
Opportunity Zone: Capital gains deferral + elimination potential
RHID Eligibility: 15-20 year property tax reimbursement option
Market Position:
Downtown Hutchinson is experiencing multi-million dollar public investment in streetscape improvements, new amphitheater, and mixed-use development. The Hoke Building sits at the epicenter of this renaissance.
Tourism & Economic Drivers:
Kansas State Fair: 328,000+ annual visitors
Cosmosphere Space Museum: 150-200K annual tickets
Healthcare hub: Hutchinson Regional Medical Center
Advanced manufacturing: Siemens Gamesa nacelle plant
Population: ~39,431 residents, $58,801 median household income
~30% construction complete toward 23-suite boutique hotel
City-approved stamped architectural plans
Adjacent dedicated parking lot on E Sherman Street
Eligible for ~$900K Federal + ~$1.1M Kansas State historic tax credits (45% total)
Located in Qualified Opportunity Zone
Directly across from Historic Fox Theatre
RHID eligible for potential 15-20 years property tax reimbursement
Location Highlights:
Heart of downtown Hutchinson's revitalized district
Walking distance to 20+ restaurants, breweries, Fox Theatre
Near Kansas State Fairgrounds (328,000+ annual visitors)
Close to Cosmosphere Space Museum (150-200K annual visitors)
Downtown fiber broadband district
Development Options:
Complete 23-key boutique hotel with rooftop bar
Convert to 22-26 loft apartments (~$1.45/SF monthly market rate)
Mixed-use: residential over street-level retail/coworking
Short-term rental + coworking hybrid
Financial Incentives:
Historic tax credits on ~$2M qualified rehabilitation expenses
Opportunity Zone benefits (defer capital gains until 2026, eliminate on 10+ year hold)
Potential RHID property tax reimbursement for multifamily conversion
Investment Highlights
Triple-Stack Investment Benefits:
Historic Tax Credits: Up to 45% on qualified expenses (~$2M total)
Opportunity Zone: Capital gains deferral + elimination potential
RHID Eligibility: 15-20 year property tax reimbursement option
Market Position:
Downtown Hutchinson is experiencing multi-million dollar public investment in streetscape improvements, new amphitheater, and mixed-use development. The Hoke Building sits at the epicenter of this renaissance.
Tourism & Economic Drivers:
Kansas State Fair: 328,000+ annual visitors
Cosmosphere Space Museum: 150-200K annual tickets
Healthcare hub: Hutchinson Regional Medical Center
Advanced manufacturing: Siemens Gamesa nacelle plant
Population: ~39,431 residents, $58,801 median household income
DATA ROOM Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Building Size | 19,800 SF |
| Property Type | Hospitality | No. Rooms | 24 |
| Property Subtype | Hotel | No. Stories | 4 |
| Building Class | B | Parking Ratio | 0.91/1,000 SF |
| Lot Size | 0.24 AC | Corridor | Interior |
| Construction Status | Abandoned | Opportunity Zone |
Yes
|
| Zoning | C5 - Commercial | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.24 AC |
| Construction Status | Abandoned |
| Building Size | 19,800 SF |
| No. Rooms | 24 |
| No. Stories | 4 |
| Parking Ratio | 0.91/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | C5 - Commercial |
AMENITIES
- High Speed Internet Access
- On-Site Bar
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $171.00 | - |
| Guest Room | 22 | $134.00 | - |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $217,533 | |
| Land Assessment | $8,318 | Total Assessment | $225,851 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$8,318
Improvements Assessment
$217,533
Total Assessment
$225,851
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Hoke Hotel | 23 E 1st Ave
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