Dinesh Paliwal Acquires Motel In Dania Beach For $2.53M
SOLD
$2,535,000
Florida
See Similar DealsHotel6,545 SF
Sold 04/12/2024
SOLD
Dinesh Paliwal Acquires Motel In Dania Beach For $2.53M
1290 Federal Highway
See Similar DealsHotel6,545 SF
Sold 04/12/2024
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$387
Total Square Footage:6,545 SF
Transaction Type:Sale
The property involved in the transaction is a motel located at 1290 South Federal Highway in Dania Beach. The property spans 6,545 square feet with a sale price of $2,535,000, equating to $387 per square foot. The lot size is 16,184 square feet, making it a notable investment opportunity in the area.
Summary of transaction details:
- Property Type: Motel
- Transaction Amount: $2,535,000
- Buyer: Dinesh Paliwal
- Seller: Shila N. Patel
- Buyer's Rep: Fabian Mahecha, Jenni Fontana & Garrick Benabe - APEX Capital Realty
- Market: Dania Beach
The purchase was facilitated by APEX Capital Realty, with Fabian Mahecha, Jenni Fontana, and Garrick Benabe representing the buyer, Dinesh Paliwal, in the acquisition. The deal highlights the active real estate market in Dania Beach and showcases the collaboration between the involved parties in successfully closing the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$135,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,006.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,017.19
Annual Debt Service$144,206.32
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