Shmuel Bonnardel's RORE Investment Group Acquires Hotel In Boynton Beach For $8.8M
SOLD
$8,800,000
Florida
See Similar DealsHotel36,511 SF
SOLD
Shmuel Bonnardel's RORE Investment Group Acquires Hotel In Boynton Beach For $8.8M
2821 Federal Highway
See Similar DealsHotel36,511 SF
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$241
Total Square Footage:36,511 SF
Transaction Type:Sale
The hotel located at 2821 S Federal Hwy in Boynton Beach, FL has been sold in a recent transaction. The property spans a total area of 36,511 square feet, with a sale price of $8,800,000. This equates to a price per square foot of $241. The hotel consists of 104 rooms, resulting in a price per key of $84,615.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,800,000
- Address: 2821 S Federal Hwy, Boynton Beach, FL
- Market: Boynton Beach, FL
- Buyer: Shmuel Bonnardel - RORE Investment Group
- Seller: Kirit Shah
- Total Square Feet: 36,511
- Price per Square Foot: $241
- Number of Keys: 104
- Price per Key: $84,615
Shmuel Bonnardel, representing RORE Investment Group, acted as the buyer in this transaction. The seller was Kirit Shah. If you have any property deals, you can contact Shmuel Bonnardel at [email protected] or (904) 310-0065.
Note: RORE Investment Group is actively looking for property acquisitions.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$469,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,264.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,716.49
Annual Debt Service$500,597.87
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