428 Center AveOakley, KS 67748

Property Details for 428 Center Ave

Year built

1952

Lot size

0.41 AC

Property size (Sq ft)

3,740 SF

Property type

Motels

APN

012-03-0-10-27-002.00-0

APU

120301027002000

Description

This exceptional 20-key motel presents a lucrative investment opportunity in Oakley, Kansas. Ideally situated near Highway 40 and Interstate 70, this established property boasts a prime location for attracting travelers. Built in 1954 and extensively renovated in 2019, the motel offers 20 updated guest rooms, each equipped with a smart TV (installed within the last four years). The property also includes a manager's apartment, providing convenient on-site management. A new roof was installed five years ago, ensuring long-term structural integrity, and all mattresses were replaced at the same time, guaranteeing guest comfort. Further enhancing guest convenience, the motel features an on-site laundry facility with two coin-operated washers and dryers, as well as a vending machine. The 0.41-acre lot provides ample space. The absence of a franchise affiliation eliminates potential Property Improvement Plan (PIP) costs. This turnkey operation is meticulously maintained and ready for immediate ownership, presenting a rare opportunity for a buyer seeking a hassle-free entry into the hospitality industry. The asking price is $695,000. This is a well-maintained, profitable motel, ready for a new owner. The single-story building offers easy management and accessibility.

• CAP approach

  CAP return

  Valuation

  6%

  $483,665

  6.5%

  $446,460

  7%

  $414,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $623,620

  Geo Method

  $262,649

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,170,260

  Retail / Commercial

  $603,423

  Mixed-Use / Specialty

  $603,889

  Office

  $603,026

  Institutional / Educational

  $628,736

  Residential Income

  $735,621

  Multifamily

  $867,758

  Automotive / Energy

  $538,916

  Parking / Income-Based Land

  $183,388

  Restaurant / Food Service

  $319,671

  Healthcare / Senior Housing

  $616,593

Location Insight

City

Oakley

County

Logan

State

Kansas

Latitude

39.1297

Longitude

-100.853

Property Tax & Assessments

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