Senate Suites Extended Stay Hotel Listing Details & Market Data

Property is one block from the Kansas Capitol Building, 9 minute walk.Maya 'Tina" Patel of NewGen Advisory is pleased to present for sale Senate Suites Extended Stay Hotel. This stunning historical building, originally constructed in 1928, is a luxurious all-suite hotel comprised of 51 units. Located in downtown Topeka, Kansas, it boasts an excellent position within one block of the Kansas Capitol Building. Each studio or suite within the property is uniquely adorned and equipped with cable TV including free HBO. Additional amenities include a gym with a jacuzzi, guest laundry facilities, and an expansive common area. Certain units even offer kitchenettes and family rooms for added convenience. This property, once a prestigious luxury apartment, offers an excellent opportunity for re-conversion to its original use. There is no need for rezoning, as it is already designated for multi-use development. Additionally, it can be redeveloped or repositioned for nursing homes, student or veteran housing, and various other forms of multifamily development. Notably, this property is listed in the National Register of Historic Places, making it eligible for numerous federal, state, and city rebate programs that incentivize the preservation of its original structure. By adhering to national, state, and local regulations, a knowledgeable buyer can leverage the available historic tax credit programs while acquiring and holding this asset, resulting in a substantial return on investments. This property is currently closed and is a perfect blank canvas for incoming buyer to convert to however they see fit.