Hotel Brokers of America is pleased to exclusively offer the Upscale All-Suite Extended Stay Residence Inn, located in Topeka, KS. Topeka is the State Capital of Kansas with multiple demand drivers including Government, corporate, and leisure. * * * Highlights & Location: • The hotel is Institutionally Owned and Managed Resulting in much Higher than Normal Expenses. Any Owner-operator will quickly increase the NOI driving significant Profits. A 66 Room Residence Inn with $2M plus Revenue Should be delivering a minimum 38%-42% NOI. • Topeka is the State Capital of Kansas with multiple demand drivers including strong Government / Corporate and Leisure. • The Hotel has an Excellent Location in the Heart of the Business District. • The Hotel is a Strong Performer operating #1 in ADR at $119.89 and #3 in Occupancy consistently over 72% even though it requires a full PIP from Marriott. PIP complete this hotel is poised to do significantly high Revenue by becoming # 1 in Occupancy at a $10 to $15 higher ADR. • As of March 2024, the hotel has demonstrated a robust performance, with a trailing 12-month revenue of $2,111,000. It's worth noting that the property has a historical revenue track record surpassing $2,390,000. • The Hotel is offered at $6,200,000 (2.94 X Revenue) Plus PIP, which places it at a highly attractive 3.72 x revenue PIP Complete, for a performing and Profitable fully renovated Residence Inn by Marriott • At $119,000 per room, the Hotel is priced at a significant discount to new construction of a minimum of $160,000 for a Marriott Residence Inn.