Curley Lee Bonds II Acquires Hotel In Fort Lauderdale For $15.65M
SOLD
$15,650,000
Florida
See Similar DealsHotel71,567 SF
Sold 09/16/2022
SOLD
Curley Lee Bonds II Acquires Hotel In Fort Lauderdale For $15.65M
2275 West State Road 84th, Fort Lauderdale, Florida 33312, United States
See Similar DealsHotel71,567 SF
Sold 09/16/2022
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$218
Total Square Footage:71,567 SF
Transaction Type:Sale
The property asset involved in this transaction is a Hotel/Motel/Hostel/B&B located at 2275 W State Road 84 in Fort Lauderdale, FL. The property spans a total area of 71,567 square feet, with a price per square foot of $218. The sale took place on September 16, 2022, and the transaction amount was $15,650,000. The buyer of the property is Curley Lee Bonds II, while the seller is Sudha Bhakta.
Summary of transaction details
- Property Type: Hotel/Motel/Hostel/B&B
- Transaction Amount: $15,650,000
- Address: 2275 W State Road 84, Fort Lauderdale, FL
- Market: Fort Lauderdale, FL
- Square Footage: 71,567
- Price per Square Foot: $218
- Buyer: Curley Lee Bonds II
- Seller: Sudha Bhakta
Curley Lee Bonds II represented the buyer in this transaction. No additional information about the deal's key individuals and companies is available.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$834,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,601.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,188.98
Annual Debt Service$890,267.81
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