Listing Summary
PROPERTY TOURS: Monday & Tuesday, February 9 & 10, and Tuesday, Feb. 17, all by appointment only. Please contact the touring agent, David Jones 913.499.4725 (d) or 913.568.7615 (c), to schedule a tour.
Full Description
Restoring a Legacy: A Mixed-Use Masterpiece in Topeka, KS
Steeped in history and listed on the historic register, this iconic asset represents more than just a hotel; it is a destination waiting to be rediscovered. With the right repositioning plan, this property can once again serve as the social and professional heartbeat of the city. At its core is a powerhouse of event space: nearly 40,000 square feet of versatile meeting facilities designed to accommodate the prestigious government and federal conferences that define the Topeka market.
Stability Meets Scalability What sets this investment apart from its peers is its multifaceted income stream. By integrating residential apartments and commercial leases with traditional hotel operations, the asset provides a stabilized foundation of revenue. This unique structure allows an investor to mitigate risk while aggressively pursuing the vast upside potential found in the hotel’s hospitality metrics.
The Opportunity by the Numbers Current data suggests that the asset is significantly underperforming its potential. Operating at half the occupancy and RevPAR of its immediate competitors, the property remains a "sleeping giant" in the Kansas convention landscape. Given its capacity to host over 1,000 guests and its status as one of the state's largest venues, a strategic refresh would bridge the gap between its current status and its competitive set.
The Heart of the State Capital Location is the property's greatest permanent asset. Situated within walking distance of the State Capitol building and the dense concentration of state office complexes, it is perfectly positioned to serve the state’s political and business leadership. Its proximity to I-70 ensures that it remains the most accessible choice for travelers and convention-goers entering the Topeka metropolitan area.
Quick Glance
- Listing ID:
CL-Kansas-27293
- Status:
Inactive
- Year Build:
N/A
- Building Size:
28,000 SqFt
- Lot Size:
6 Acr