Gabriel Kutsovsky, Lawrence Kutsovsky & Randi Zucker Acquire Clearwater Motel For $1.85M
2431 Gulf to Bay Blvd, Clearwater, FL 33765, USA
$1,800,000
$324/SF
Building Size
5,546 SF
Asset Type
Hotel
Closing
Nov 30, 2022
About this deal
AI
The motel located at 2431 Gulf to Bay Blvd in Clearwater has been sold in a closed transaction. The property spans 5,546 square feet and was sold for a price of $1,850,000, resulting in a price per square foot of $334. The transaction included 13 keys, with a price per key of $142,308.
Summary of transaction details
- Property Type: Motel
- Transaction Amount: $1,850,000
- Address: 2431 Gulf to Bay Blvd, Clearwater
The buyers of the motel were Gabriel Kutsovsky, Lawrence Kutsovsky, and Randi Zucker. They were represented by their broker in the deal. The seller of the property was Andzej Rutkowski.
On the Map
$1,800,000
$324/SF
Hotel
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Players
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93