Marcus & Millichap Sells Mobile Hotel For $4.1M
SOLD
$4,100,000
Alabama
See Similar DealsHotel
Sold 11/07/2022
SOLD
Marcus & Millichap Sells Mobile Hotel For $4.1M
1 East I-65 Service Road South, Mobile, Alabama 36606, United States
See Similar DealsHotel
Sold 11/07/2022
Summary
ALABAMA
Asset Type:Hotel
Transaction Type:Sale
The hotel located at 1 E Interstate 65 Service Rd S in Mobile, AL has been sold for a total price of $4,100,000. The property consists of 73 keys, and the price per key (PPK) works out to be $56,164.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $4,100,000
- Address: 1 E Interstate 65 Service Rd S, Mobile, AL
- Market: Mobile, AL
- Brokers: David J. Altman, Robert S. Hunter & McLean Hicklin - Marcus & Millichap
- Keys: 73
- Price per Key (PPK): $56,164
David J. Altman, Robert S. Hunter, and McLean Hicklin from Marcus & Millichap represented the parties involved in the deal.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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