Matthew Tempia, Jason Merrell, Adam Ibrahim, Jeffery Mathews, Damon Vann & Blake Miaoulis Acquire Miami Hotel From PMG Development For $2,445,000
SOLD
$2,445,000
Florida
See Similar DealsHotel1,080 SF
Sold 03/23/2020
SOLD
Matthew Tempia, Jason Merrell, Adam Ibrahim, Jeffery Mathews, Damon Vann & Blake Miaoulis Acquire Miami Hotel From PMG Development For $2,445,000
200 Northeast 11th Street, Miami, FL, USA
See Similar DealsHotel1,080 SF
Sold 03/23/2020
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$2,263
Total Square Footage:1,080 SF
Transaction Type:Sale
The hotel located at 200 NE 11 Street in Miami has been sold in a recent transaction. The sale took place on March 23, 2021. The asset type of the property is a hotel. The property was sold by PMG Development.
Summary of Transation Details
- Property Type: Hotel
- Transaction Amount: $2,445,000
- Date: 03/23/2021
- Address: 200 NE 11 Street, Miami
The buyers of the property are Matthew Tempia, Jason Merrell, Adam Ibrahim, Jeffery Mathews, Damon Vann, and Blake Miaoulis. The transaction was facilitated by broker Jacqueline Pirkle.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,399.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,686.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,590.55
Annual Debt Service$139,086.57
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