This is excellent oppurtunity to redevelop this beautiful property to LOFTS/efficiency apartments/school in a market with NO supply of LOFTS and a very low supply of apartments. The smaller 2nd or 3rd tier market have a huge shortage of LOFTS as opposed to larger metros which are overbuilt. This property is being run as a hotel and there are 81 rooms, banquet room, Atrium area, pool area and an attached fully equipped restaurant. It sits on 5.8 acres lot of land and total built up square footage is approx 60,000sq ft. The pool area cold hold up to 100 people. There is approx 3acres of vacant land which could be used for future expansion. There is an attached restaurant, kitchen, and dining area along with a banquet room that seats 120 plus the attached indoor atrium that could seat another 300 people. Total meeting space including the meeting room attached onto the restaurant and b quiet room including the atrium area could be in the vicinity of approx 500 people. The restaurant can be converted to an IHOP style restaurant by the right operator as newton does not have a good dedicated pancake house/Diner. There is a meeting room attached to the restaurant that can hold upto 80 people. There is great potential for good restaurant operator willing to lease the restaurant once a sale takes place. Potential rent for the restaurant can be $3-5000/- month for a 5 year lease. There are many restaurant operators interested in renting the restaurant but current ownership would prefer to have that happen after a sale. The vacant land presents an oppurtunity for developers to expand the number of units and perhaps build a storage and/ or strip mall, Chipotle or a Starbucks. The property is in excellent condition with minimal upgrades for the transition to lofts/efficiency apartments/ school. Excellent location by the highway I-135 and sits right next to Braums restaurant. There are 2 buildings and the main building has 54 units and the 2nd bldg has 27 units. All rooms have newer serta beds, flat screen tv's, refrigerators and microwaves and new carpeting and newer PTAC units. Average room size is 12X28 ft. Property is in excellent condition and it has a beautiful layout. For more information please call or email and serious buyers/inquiries only. City and county incentives available for the right buyer.