Fairfield Inn & Suites Hutchinson | 1111 N Lorraine St
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Fairfield Inn & Suites Hutchinson 1111 N Lorraine St
89 Room Hotel Hutchinson, KS 67501 $9,900,000 ($111,236/Room) 9.09% Cap Rate
Investment Highlights
- • Priced at $9,900,000
- • Interstate Location
- • OCC Best Of Compset for 2024
- • Fully PIP Complete
- • Marriott Brand- Highly Sought After
- • $110 PLUS ADR Market
Executive Summary
Hotel Brokers of America is excited to offer the 89 Room Fairfield Inn & Suites located in Hutchinson, Kansas. This hotel is the second newest in the market and the most recently renovated property. The hotel shows very well in person and online through its photos. The Marriott Franchise and Marriott Bonvoy rewards program is incredibly popular amongst guests and makes this an excellent opportunity in the hotel space whether you’re moving up in the hotel space or acquiring an additional Marriott hotel.
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Highlights & Location:
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Corporate Demand Generators: Hutchinson, Kansas, and its surrounding area are supported by a mix of industries, with several major employers contributing to the local economy. Some of the notable employers near Hutchinson include:
o Siemens Gamesa Renewable Energy: Siemens Gamesa operates a wind turbine manufacturing plant in Hutchinson, employing a significant number of local residents. The plant produces wind turbine blades and contributes to the renewable energy sector.
o Hutchinson Regional Healthcare System: Hutchinson Regional Healthcare System is a major healthcare provider in the region, offering medical services, including hospital care, emergency services, and specialty clinics. It is a significant employer in the healthcare sector.
o Hutchinson Community College: Hutchinson Community College provides higher education and vocational training to students in the area. The college employs faculty and staff across various academic and administrative departments.
o Dillon Stores (Kroger): Dillon Stores, a subsidiary of Kroger, operates several grocery stores in Hutchinson and the surrounding area. It is a significant employer in the retail sector, providing jobs in sales, management, and support positions.
o Collins Aerospace: Collins Aerospace, a division of Raytheon Technologies, has a facility in nearby Wichita, which is within commuting distance of Hutchinson. The company specializes in aerospace and defense technologies and may indirectly contribute to local employment opportunities.
o Agricultural Industry: Hutchinson and its surrounding area have a strong agricultural presence, with numerous farms, agricultural businesses, and related industries. These include grain processing facilities, agricultural equipment manufacturers, and agribusiness service providers.
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Major Cites: Hutchinson, Kansas, is situated in Reno County in the central part of the state. While it's not directly adjacent to major metropolitan areas, there are several significant cities within a reasonable driving distance:
o Wichita, Kansas
o Salina, Kansas
o Topeka, Kansas
o Kansas City, Kansas/Missouri
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Highlights & Location:
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Corporate Demand Generators: Hutchinson, Kansas, and its surrounding area are supported by a mix of industries, with several major employers contributing to the local economy. Some of the notable employers near Hutchinson include:
o Siemens Gamesa Renewable Energy: Siemens Gamesa operates a wind turbine manufacturing plant in Hutchinson, employing a significant number of local residents. The plant produces wind turbine blades and contributes to the renewable energy sector.
o Hutchinson Regional Healthcare System: Hutchinson Regional Healthcare System is a major healthcare provider in the region, offering medical services, including hospital care, emergency services, and specialty clinics. It is a significant employer in the healthcare sector.
o Hutchinson Community College: Hutchinson Community College provides higher education and vocational training to students in the area. The college employs faculty and staff across various academic and administrative departments.
o Dillon Stores (Kroger): Dillon Stores, a subsidiary of Kroger, operates several grocery stores in Hutchinson and the surrounding area. It is a significant employer in the retail sector, providing jobs in sales, management, and support positions.
o Collins Aerospace: Collins Aerospace, a division of Raytheon Technologies, has a facility in nearby Wichita, which is within commuting distance of Hutchinson. The company specializes in aerospace and defense technologies and may indirectly contribute to local employment opportunities.
o Agricultural Industry: Hutchinson and its surrounding area have a strong agricultural presence, with numerous farms, agricultural businesses, and related industries. These include grain processing facilities, agricultural equipment manufacturers, and agribusiness service providers.
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Major Cites: Hutchinson, Kansas, is situated in Reno County in the central part of the state. While it's not directly adjacent to major metropolitan areas, there are several significant cities within a reasonable driving distance:
o Wichita, Kansas
o Salina, Kansas
o Topeka, Kansas
o Kansas City, Kansas/Missouri
Property Facts
| Price | $9,900,000 | Building Size | 54,813 SF |
| Price Per Room | $111,236 | No. Rooms | 89 |
| Sale Type | Investment | No. Stories | 4 |
| Cap Rate | 9.09% | Year Built | 2012 |
| Property Type | Hospitality | Parking Ratio | 1.57/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | B | Opportunity Zone |
Yes
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| Lot Size | 1.71 AC |
| Price | $9,900,000 |
| Price Per Room | $111,236 |
| Sale Type | Investment |
| Cap Rate | 9.09% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.71 AC |
| Building Size | 54,813 SF |
| No. Rooms | 89 |
| No. Stories | 4 |
| Year Built | 2012 |
| Parking Ratio | 1.57/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
Amenities
- Business Center
- Fitness Center
- Pool
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 18 | $149.00 | - |
| Guest Room | 71 | $134.00 | - |
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PROPERTY TAXES
| Parcel Number | 133-07-0-10-24-017.00 | Improvements Assessment | $1,229,193 |
| Land Assessment | $83,308 | Total Assessment | $1,312,501 |
PROPERTY TAXES
Parcel Number
133-07-0-10-24-017.00
Land Assessment
$83,308
Improvements Assessment
$1,229,193
Total Assessment
$1,312,501
zoning
| Zoning Code | I1 |
| I1 |
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Fairfield Inn & Suites Hutchinson | 1111 N Lorraine St
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