Radco Residential LLC Acquires 1.23-Acre Hotel In St. Augustine For $28.8M
116 San Marco Avenue, St. Augustine, Florida 32084, United States
$28,750,000
$513,392/SF
Building Size
56 SF
Asset Type
Hotel
Closing
Apr 17, 2023
AI
The San Marco Hotel, located at 116 San Marco Ave in St. Augustine, has been sold in a recent transaction. The property spans across 1.23 acres and features 56,781 square feet of space. The sale took place on December 20, 2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $28,750,000
- Market: St. Augustine
- Acres: 1.23
Radco Residential LLC has acquired the San Marco Hotel from Driftwood Capital. The seller was represented by Carlos Rodriguez. The purchase price for the hotel was $28,750,000, resulting in a price per square foot of $506.
Saint Augustine 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93