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Econo Lodge Ottawa 2331 S Cedar St 54 Room Hotel Ottawa, KS 66067 $3,200,000 ($59,259/Room) 5.50% Cap Rate
Investment Highlights
- Current Cap Rate: 5.5% / Proforma Cap Rate: 11%
- Located just off the just off of the I-35 interchange
- An Offering Memorandum is included.
Executive Summary
This 44 unit Multi-Family property on the south side of Ottawa is available for sale. Recently renovated, the property is just off of the I-35 interchange, in close proximity to retail and commercial services. Currently 77% occupied, the property has plenty of upside potential for an investor-owner. An Offering Memorandum is included.
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Property Facts
| Price | $3,200,000 | Building Size | 22,000 SF |
| Price Per Room | $59,259 | No. Rooms | 54 |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 5.50% | Year Built/Renovated | 1985/2023 |
| Property Type | Hospitality | Parking Ratio | 3.27/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 2.10 AC | ||
| Zoning | CS | ||
| Price | $3,200,000 |
| Price Per Room | $59,259 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.10 AC |
| Building Size | 22,000 SF |
| No. Rooms | 54 |
| No. Stories | 2 |
| Year Built/Renovated | 1985/2023 |
| Parking Ratio | 3.27/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | CS |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 3 | $95.00 | - |
| Guest Room | 51 | $62.00 | - |
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Property Taxes
| Parcel Number | 136-13-0-00-02-005.00-0 | Improvements Assessment | $221,703 |
| Land Assessment | $50,790 | Total Assessment | $272,493 |
Property Taxes
Parcel Number
136-13-0-00-02-005.00-0
Land Assessment
$50,790
Improvements Assessment
$221,703
Total Assessment
$272,493
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Econo Lodge Ottawa | 2331 S Cedar St
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