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

Hospitality properties

Property subtype

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%

  $654,720

  6.5%

  $604,356

  7%

  $561,188

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,724,126

  Geo Method

  $726,147

• Alternative Use

  Use

  Valuation

  Residential

  $659,782

  Hospitality

  $604,356

  Educational

  $502,818

  Medical

  $520,110

  Retail

  $782,161

Location Insight

City

Oakley

County

Logan

State

Kansas

Latitude

39.1297

Longitude

-100.853

Property Tax & Assessments

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