Rueben Zulauf And Samuel Bonnardel Acquire Hotel In Jacksonville For $5.25M From Rita Grover
1351 Airport Road, Jacksonville, Florida 32218, United States
$5,250,000
$70/SF
Building Size
74,432 SF
Asset Type
Hotel
Closing
Dec 31, 2021
AI
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.
Players
Jacksonville 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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93