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
About this deal
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.
On the Map
$28,750,000
$513,392/SF
Hotel
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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