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Dinesh Paliwal Acquires Hotel In Dania Beach For $2.3M

Property Image
SOLD
$2,300,000
Jenni Fontana
Fabian Mahecha
+ 1

Florida

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Hotel5,977 SF
Sold 11/28/2023
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Property Image
SOLD

Dinesh Paliwal Acquires Hotel In Dania Beach For $2.3M

1150 Federal Highway

See Similar Deals
Hotel5,977 SF
Sold 11/28/2023
Jenni Fontana
Fabian Mahecha
+ 1
Contact now

Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$384
Total Square Footage:5,977 SF
Transaction Type:Sale

The property involved in this closed transaction is a hotel located at 1150 Federal Highway in Dania Beach. The property spans a total square footage of 5,977 and was sold for a price of $2,300,000, resulting in a price per square foot of $385.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $2,300,000
  • Address: 1150 Federal Highway
  • Market: Dania Beach

The buyer of this hotel is Dinesh Paliwal, while Tee Jay Of Dania acted as the seller. The buyer was represented by Garrick Benabe and Fabian Mahecha from APEX Capital Realty. On the other hand, Jenni Fontana, also from APEX Capital Realty, represented the seller.

Overall, this closed transaction highlights the successful sale of a hotel in Dania Beach. With a total area of 5,977 square feet and a sale price of $2,300,000, this deal showcases the strong demand for hotel properties in the area.

Players

Garrick Benabe
4 deals$62.5M volume
BROKER

Jenni Fontana
APEX Capital Realty
5 deals$12.5M volume(954) 892-3331
BROKER

Fabian Mahecha
APEX Capital Realty
2 deals$4.8M volume(954) 790-4784
BROKER

Details

SOLD
IMAGE: Garrick Benabe, Jenni Fontana & Fabian Mahecha DATE: 11/28/2023 ADDRESS: 1150 Federal Highway MARKET: Dania Beach ASSET TYPE: Hotel BUYER: Dinesh Paliwal SELLER: Tee Jay Of Dania BUYER'S REP: Garrick Benabe & Fabian Mahecha (@Fam.Wealth) - APEX Capital Realty (@APEXCapitalRealty) SELLER'S REP: Jenni Fontana (@Jennisellstheblock) - APEX Capital Realty SALE PRICE: $2,300,000 SF: 5,977 ~ PPSF: $385

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$122,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08