Dharma Malempati Acquires Hotel In Tampa For $10M
601 S Dale Mabry Hwy
Building Size
—
Asset Type
—
Closing
Sep 15, 2022
About this deal
AI
Ely Silverstein, David Greenberg, Gabriel Shamay, and Christopher Passeggiata of Marcus & Millichap represented the buyer in the sale of a hotel located at 601 S Dale Mabry Hwy in Tampa. The property, spanning 36,600 square feet, was sold by Joe Pupello to Dharma Malempati for a sale price of $10,000,000, resulting in a price per square foot of $273.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $10,000,000
- Address: 601 S Dale Mabry Hwy, Tampa
- Square Footage: 36,600
- Buyer: Dharma Malempati
- Seller: Joe Pupello
- Brokers: Ely Silverstein, David Greenberg, Gabriel Shamay - Christopher Passeggiata - Marcus & Millichap
The team at Marcus & Millichap, led by Ely Silverstein, David Greenberg, Gabriel Shamay, and Christopher Passeggiata, facilitated the transaction between Dharma Malempati and Joe Pupello for the sale of the hotel.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93