The Historic Heritage Hotel
Offered for sale at $499,900
This is a great opportunity for owner operators to add their own creative touch, or as an easy investment property!
The Historic Heritage Hotel at 244 Long St in Dighton, KS, was built in 1917 and has enjoyed nearly 100 years of consistent occupancy due to seasonal farm workers, construction and oil rig crews, hunters, annual regional gatherings, traveling hospital personnel, and visitors. The charming property includes 27 hotel rooms, 15 of which are furnished and currently operating, 1 room almost completed, and 15 additional rooms being prepared for renovation. There is also a 2 bed, 1 bath manager's apartment (which was formerly commercial offices that could potentially be changed back).
Good P&Ls. LOBBY AND HALLWAYS have been renovated. Additional rooms are being prepped for renovation. Recent upgrades include an elastomeric rubber roof coat and new fire alarms and smoke detectors in 2013, all windows replaced with double hung double pane tilt vinyl in 2012, digital high-efficiency heat/AC units added in 2012, natural gas 60KW generator installed 2009 which can power the entire building in the event of weather outages, digital phone system, flat screen televisions in all rooms, front, and side sidewalks replaced, hotel software and video surveillance added.
A new coin-operated public Laundromat was added in 2011 for more convenience and additional income. An outdoor patio for grilling and relaxing is also underway.
Based on the P&Ls for the last 5 years which are averaging between $80,000 and $100,000 per year, and a gross rent multiplier of 3x revenue, it would suggest a true market value of somewhere between $240,000-300,000. We are selling for $499,900.00! More information is available upon request.
- 15 Guest Rooms
- 15 Guest Room Baths
- Has Owner's Quarters
- Built in 1917
- Opened in 1917
- Photo Gallery
- Offered for sale at $499,900
- Occupancy Rate: Currently ~40% with marketing in progress!
- Annual revenue is $100,000