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Kabani Hotel Group Sells 50-Room Hotel In St. Augustine For $9M At 6.3% Cap Rate

Property Image
SOLD
$9,000,000

Florida

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Hotel
Sold 01/12/2026
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Property Image
SOLD

Kabani Hotel Group Sells 50-Room Hotel In St. Augustine For $9M At 6.3% Cap Rate

215 Anastasia Boulevard

See Similar Deals
Hotel
Sold 01/12/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Sale

The transaction involved the sale of a 50-room hotel known as voco St. Augustine – Historic Area by IHG, located at 215 Anastasia Boulevard in St. Augustine. The hotel, built in 2019, is positioned between downtown St. Augustine and the beach. The sale price was $9,000,000, equating to $180,000 per key and reflecting a 6.3% capitalization rate along with a 5.3x room revenue multiple.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $9,000,000
  • Keys: 50
  • Price Per Key: $180,000
  • Cap Rate: 6.3%
  • Room Revenue Multiple: 5.3x
  • Broker: Lucas Mondino - Kabani Hotel Group
  • Market: St. Augustine
  • Address: 215 Anastasia Boulevard

This transaction illustrates the strong investor demand for well-branded, leisure-driven assets within Florida’s constrained secondary markets, as evidenced by the involvement of Lucas Mondino from Kabani Hotel Group representing this sale.

Players

Lucas Mondino
Marcus & Millichap
Lucas Mondino
5 deals$51.6M volume(786) 522-7138
BROKER

Details

SOLD
IMAGE: Lucas Mondino DATE: 01/12/2026 ADDRESS: 215 Anastasia Boulevard MARKET: St. Augustine ASSET TYPE: Hotel BROKER: Lucas Mondino - Kabani Hotel Group SALE PRICE: $9,000,000 KEYS: 50 ~ PPK: $180,000 NOTE: Kabani Hotel Group sold the 50-room voco St. Augustine – Historic Area by IHG for $9M ($180K per key) at a 6.3% cap rate and 5.3x room revenue multiple.The 2019-built boutique hotel, located between downtown St. Augustine and the beach, reflects strong investor demand for well-branded, leisure-driven assets in Florida’s constrained secondary markets.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10