AASHI LLC Acquires Bessemer Hotel For $5.02M
5001 Academy Lane Bessemer, Alabama 35022, USA
$5,020,000
$156/SF
Building Size
32,000 SF
Asset Type
Hotel
Closing
Jul 19, 2023
About this deal
AI
A 1.7-acre hotel property located at 5001 Academy Lane in Bessemer, AL has been sold. The property, known as the Holiday Inn Express & Suites, was purchased by AASHI LLC, an affiliate of local hospitality firm Baron Hospitality, for a total of $5.02 million.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $5,020,000
- Square Footage: 32,000 SF
- Price per Square Foot: $157
- Address: 5001 Academy Lane, Bessemer, AL
- Market: Bessemer, AL
The buyer, AASHI LLC, is an affiliate of Baron Hospitality, a local hospitality firm in the area. The seller of the property was SOHAM Group LLC. The transaction took place on 07/19/2023 and marks the transfer of ownership for the Holiday Inn Express & Suites in Bessemer.
Players
Bessemer 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
3.16%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93