SOLDHotel
Marcus & Millichap Sells Mobile Hotel For $4.1M
1 East I-65 Service Road South, Mobile, Alabama 36606, United States
$4,100,000
Building Size
—
Asset Type
Hotel
Closing
Nov 6, 2022
AI
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.
Players
Mobile Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93