Red Coach Inn Newton

Hospitality for Sale
Catylist Listing ID: 30732208
Property Subtypes: Hotel, Inn, Motel
Number of Units: 81 Units
Building Size (RSF): 56,104 SF
Gross Building Area: See Agent
Gross Land Area: 252,648 SF
Sale Price: $4,500,000
Unit Price: $55,555.56 Per Unit
Property Use Type: Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/28/2021

Overview / Comments

Hotel and Convention Center. Property features 81 large comfortable guest rooms, canopied front entrance, full service restaurant and banquet and conference services, business center, indoor pool and recreation area and guest laundry. Large parking lot with over 230 striped parking spaces. Guest rooms feature a blend of King and Double Queen beds, mini fridge and microwaves, flat screen TV, writing desk, and large full bathroom with luxury amenities.
Exclusively offered by The Dave Brown Group, PenFed Realty: Opportunity to rehab and rebrand a hotel in Newton, KS. This 81 Room Hotel and Conference Center is over 56,000 sqft, offers large guest rooms, attached full service restaurant, conference and banquet facilities, and indoor pool. One of only five area hotels, this property is the only local hotel with an attached restaurant with conference and banquet facilities. The property qualifies for City issued IRB. The acquisition price and the cost of rehabbing and improving the hotel could be included in the IRB. The benefits from IRBs are a sales tax exemption on materials purchased for the property rehabilitation and the property would be eligible for up to 10 years property tax exemption on the entire value of the hotel. In addition to the IRB, the new owner could create a Community Improvement District (CID). The CID proceeds may reimburse the cost of rehab. For Offer Memorandum or to schedule a private showing, call Dave Brown at (316) 461-6297 or email at davidb@penfedrealty.com

Additional Details

Nearest MSA: Wichita
County: Harvey
Tax ID/APN: 0400952101002001000
Retail Clientele: General, Family, Business, Traveler, Tourist, Convention
Property Located Between: I-135 and 1st Street
Property Visibility: Excellent
Largest Nearby Street: Interstate I-135
Highway Access: I-135
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Good
Year Built: 1980
Roof Type: Flat
Construction/Siding: Concrete
Water Recreation: Indoor Pool

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,623 18,556 22,204
Median Age: 39.2 38.52 38.81
Households: 2,247 7,414 8,783
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