Radco Residential LLC Acquires 1.23-Acre Hotel In St. Augustine For $28.8M
SOLD
$28,750,000
Florida
See Similar DealsHotel56 SF
SOLD
Radco Residential LLC Acquires 1.23-Acre Hotel In St. Augustine For $28.8M
116 San Marco Avenue, St. Augustine, Florida 32084, United States
See Similar DealsHotel56 SF
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$513,392
Total Square Footage:56 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$102,142.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$136,289.67
Annual Debt Service$1,635,476.01
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