Ahmed Kabani Acquires Clearwater Hotel For $10.5M
21030 US Highway 19 North
$10,500,000
$105/SF
Building Size
99,746 SF
Asset Type
Hotel
Closing
Jun 7, 2020
About this deal
AI
The Hotel located at 21030 US Hwy 19 N in Clearwater has been sold for $10,500,000. The transaction took place on 07/06/2020. The property features 178 keys and a price per key of $58,988.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $10,500,000
- Keys: 178
- Price per Key: $58,988
The deal was facilitated by Ahmed Kabani from Marcus & Millichap. He represented both the buyer and the seller in the transaction.
The hotel sale at 21030 US Highway 19 North in Clearwater, Florida sold for $10.5M in 2020. The building is 99,746 square feet, implying about 105 per square foot on the published price. Ahmed Kabani, Kabani Hotel Group appear on the sale alongside Kabani Hotel Group. This page is the Clearwater, Florida file for the 21030 US Highway 19 North hotel sold: pricing, party profiles, and other closed hotel comps from the same Clearwater sit in the Market section below. Filter that Clearwater hotel set by closing date to see what else sold near 21030 US Highway 19 North around 2020. Published consideration for 21030 US Highway 19 North is $10.5M, dated 2020. Cite this Ahmed Kabani Acquires Clearwater Hotel For $10.5M sale when underwriting similar hotel product around Clearwater, Florida.
Clearwater 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93