LOCATION: 409 E. Sycamore, KS Principal Hwy 96 [east/west] and U.S. Hwy 281 [north/south]. Ness City, the seat of Ness County, is located in the heart of America’s ‘bread-basket.’ It offers exciting business potential, a fertile agricultural environment, and increasing, oil/natural gas production. With great schools and an active community, this is a great place to bring up a family or simply to retire to from hectic big-city life. The hotel is situated near shopping, offices and a variety of other businesses. A golf course is at your service, and within a 7.5-mile drive, lays the Goodman State Fishing Lake & Wildlife Area. A 34-mile drive north provides great fishing at the Cedar Bluff Reservoir. Bird and game hunting is world-class in the region.

DERRICK INN IMPROVEMENTS: 42 guestrooms (including 2 suites) in a sound two-story building. All guestrooms have interior entrances and ground floor units have exterior ones as well. The property features a nice front lobby with reception desk and back-office; an attractive full atrium provides an indoor pool, hot tub, and game room. Two meeting rooms serve local and regional business and service organizations.

The hotel also features a restaurant and cocktail lounge, which are leased out and operated by others. The restaurant lease produces $1,700.00 net per month, while the cocktail lounge lease brings in $700.00 per month. The leased restaurant also pay 20% of the hotel’s utilities plus it has its own gas meter.

The property offers central air and heat; natural-gas water heaters, cable TV; and city water and sewer. A maintenance shop, commercial hotel laundry, state-of the art telephone system, new carpeting in the atrium and public areas, and plentiful parking round out the package.

There is room for additional improvements to assure a professional operator substantial revenue and profitability gains.

PARK MOTEL IMPROVEMENTS: 17 guestrooms in a U-shaped one-story frame building along the busy KS Principal Highway 96. Operated by the Derrick Inn, it serves as overflow for the larger hotel, as well as for some of the oilfield crews.

All guestrooms have exterior entrances, cable TV, and plentiful parking. Individual HVAC units, natural gas water heaters.

FIXED EXPENSES & UTILITIES FOR BOTH MOTELS: 2005 Property Taxes were approximately $27,485. Annual Hazard & liability Insurance was approximately $16,100, and Utilities amounted to $70,075 before additional Bar/Restaurant Tenant contributions.

FINANCIAL FOR BOTH MOTELS: Total Guestroom and Bar/Restaurant Lease Revenues in 2005 were approximately $420,029 net of Sales and Lodging Taxes. With December 2006 estimated, the Total Revenues for 2006 will be approximately $455,000, again, net of Sales and Lodging Taxes. Annually $28,800 net is derived from the Bar/Restaurant Leases, which is included in the Total amount. Year-to-Date 2006 Occupancy is approximately 52.7%. 2006 Average Daily Rate is approximately $40.17 with the smaller, less sophisticated Park Motel achieving approximately $10.00 less per room night, and the Derrick Inn achieving accordingly more. Both operations are managed and operated from the larger operation and the owner/operator does not carry separate books for the properties.

TERMS FOR BOTH MOTELS: Asking Price is $995,000. Cash, SBA or Conventional Financing are acceptable.

NESS CITY, KS LINKS
Ness City Chamber of Commerce

Information herein has been obtained from what are believed to be reliable sources, however, Anton Hospitality Brokers, Inc., cannot guarantee its accuracy. References and information contained herein are approximate only and are subject to changes and errors. Assumptions are based on professional management and marketing of the property and future operating results will vary depending on ownership. Buyers must conduct their own investigation and due diligence and consultation with a professional financial advisor is highly recommended. Price is subject to change without notice.