Rueben Zulauf And Samuel Bonnardel Acquire Hotel In Jacksonville For $5.25M From Rita Grover
SOLD
$5,250,000
Florida
See Similar DealsHotel74,432 SF
Sold 12/31/2021
SOLD
Rueben Zulauf And Samuel Bonnardel Acquire Hotel In Jacksonville For $5.25M From Rita Grover
1351 Airport Road, Jacksonville, Florida 32218, United States
See Similar DealsHotel74,432 SF
Sold 12/31/2021
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$70
Total Square Footage:74,432 SF
Transaction Type:Sale
The property asset involved in the transaction is a hotel located at 1351 Airport Road in Jacksonville. The sale was recorded at a price of $5,250,000, with a total square footage of 74,432 and a price per square foot of $71. The hotel has a total of 117 keys, translating to a price per key of $44,872.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $5,250,000
- Address: 1351 Airport Road
- Market: Jacksonville
- Keys: 117
- Price per Key: $44,872
- Square Footage: 74,432
- Price per Square Foot: $71
- Buyer: Rueben Zulauf - JV Capital Group & Samuel Bonnardel - Rore Investment Group
- Seller: Rita Grover
- Seller's Representative: Hank Riner - Aberdeen Advisors Inc.
Key individuals involved in the deal include the buyers Rueben Zulauf, representing JV Capital Group, and Samuel Bonnardel, representing Rore Investment Group. The seller, Rita Grover, was represented by Hank Riner from Aberdeen Advisors Inc., facilitating the transaction between the parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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