With 1 hotels for sale in Topeka, investors have a wide range of opportunities to tap into the city's growing hospitality industry. Hotels in Topeka offer a unique blend of small-town charm and big-city amenities, making them an attractive investment option. As a hub for government, education, and healthcare, Topeka attracts a diverse range of visitors, from business travelers to families on vacation. The city's amenities, including the Topeka Performing Arts Center, the Evel Knievel Museum, and the Kansas Museum of History, provide a rich cultural experience for visitors. Additionally, Topeka's location at the intersection of I-70 and U.S. Highway 75 makes it an ideal stopover for travelers. With its strong infrastructure, including electricity provided by Evergy and internet services from Cox and AT&T, Topeka is well-equipped to support a thriving hospitality industry.
Topeka's hotels offer a unique investment opportunity, with an average price per square foot of $115 USD and an average size of 47,685 square feet. The largest hotel available is 47,685 square feet, providing ample space for guests. With an average cap rate of 13.86%, investors can expect a strong return on their investment. In addition to hotels, Topeka also offers a range of other investment opportunities, including restaurants, apartment buildings, and shopping centers. The city's restaurants, such as the popular Henry's Grill, offer a unique dining experience, while its apartment buildings, like the upscale Ironwood Apartments, provide a comfortable living space for residents. The city's shopping centers, including the West Ridge Mall, offer a convenient shopping experience for visitors and residents alike. With its diverse range of investment opportunities, Topeka is an attractive option for investors looking to tap into the city's growing economy.
When considering buying a hotel in Topeka, there are several key factors to take into account, including:
In Topeka, Kansas, the value of a hotel for sale is typically calculated through a comprehensive CRE appraisal, which takes into account various factors such as the property's income-generating potential, local market conditions, and the overall condition of the hotel. For instance, a CRE appraisal may consider the hotel's average daily rate, occupancy rate, and revenue per available room, as well as the local competition, to determine its value, as outlined in our article on CRE appraisals at CRE appraisal.