Leo Reilly & Robert Hunter Sell Daytona Beach Hotel For $14M
SOLD
$14,000,000
Florida
See Similar DealsHotel
Sold 06/03/2022
SOLD
Leo Reilly & Robert Hunter Sell Daytona Beach Hotel For $14M
1398 North Atlantic Avenue, Daytona Beach, Florida 32118, United States
See Similar DealsHotel
Sold 06/03/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
1398 N. Atlantic Ave, Daytona Beach: A hotel property located at this address recently changed hands in a sale transaction. The deal was facilitated by brokers Leo Reilly and Robert Hunter from Marcus & Millichap. The property was sold for a price of $14,000,000. The hotel comprises 94 keys, and the price per key was $148,936.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $14,000,000
- Address: 1398 N. Atlantic Ave, Daytona Beach
- Brokers: Leo Reilly & Robert Hunter - Marcus & Millichap
- Total Keys: 94
- Price Per Key: $148,936
This transaction highlights the successful collaboration between brokers Leo Reilly and Robert Hunter from Marcus & Millichap, who played a crucial role in facilitating the sale of the hotel property located at 1398 N. Atlantic Ave, Daytona Beach. Their expertise and dedication contributed to the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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