Marcus & Millichap Brokers Sell Osprey & Nokomis Hotel For $15.4M
221 North Casey Key Road, Osprey, FL, USA
$15,400,000
$4,403/SF
Building Size
3,497 SF
Asset Type
Hotel
Closing
Apr 11, 2021
About this deal
AI
The assets involved in the transaction are two hotels located at 1660 & 1650 S Tamiami Trail and 221 Casey Key Rd in Osprey & Nokomis, FL. The asset type of these properties is a hotel.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,400,000
- Rooms: 153
- Price per Room (PPR): $100,654
The brokers involved in this deal were David Greenberg, Gabriel Shamay, and Christopher Passeggiata from Marcus & Millichap.
The hotel sale at 221 North Casey Key Road, Osprey, FL, USA in Osprey, Florida sold for $15.4M in 2021. The building is 3,497 square feet, implying about 4.4K per square foot on the published price. David Greenberg, Gabriel Shamay, Christopher Passeggiata, Marcus & Millichap appear on the sale alongside Marcus & Millichap, Cushman & Wakefield. This page is the Osprey, Florida file for the 221 North Casey Key Road, Osprey, FL, USA hotel sold: pricing, party profiles, and other closed hotel comps from the same Osprey sit in the Market section below. Filter that Osprey hotel set by closing date to see what else sold near 221 North Casey Key Road, Osprey, FL, USA around 2021. Published consideration for 221 North Casey Key Road, Osprey, FL, USA is $15.4M, dated 2021. Cite this Marcus & Millichap Brokers Sell Osprey & Nokomis Hotel For $15.4M sale when underwriting similar hotel product around Osprey, Florida.
Players
Osprey 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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93