Deepak Khosa Acquires West Palm Beach Hotel From UC Funds
SOLD
$8,100,000
Florida
See Similar DealsHotel35,178 SF
Sold 02/04/2021
SOLD
Deepak Khosa Acquires West Palm Beach Hotel From UC Funds
123 South Ocean Avenue, West Palm Beach, FL, USA
See Similar DealsHotel35,178 SF
Sold 02/04/2021
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$230
Total Square Footage:35,178 SF
Transaction Type:Sale
A hotel located at 123 Ocean Avenue in West Palm Beach has been sold in a recent transaction. The property, with a total area of 35,178 square feet, was sold for $8,100,000, resulting in a price per square foot of $230. The hotel comprises 50 keys and the price per key amounts to $162,000. The transaction took place on February 4, 2021.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,100,000
- Address: 123 Ocean Avenue, West Palm Beach
- Market: West Palm Beach
- Square Footage: 35,178
- Price per Square Foot: $230
- Number of Keys: 50
- Price per Key: $162,000
The buyer of the hotel is Deepak Khosa, representing Atlantic Property Services. On the other hand, UC Funds, represented by Dan Palmier, acted as the seller in this transaction.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$432,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,777.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,398.13
Annual Debt Service$460,777.59
Is there something missing? Send suggestions