RORE Investment Group Acquires Hotel In Boynton Beach, FL For $8.8M
2821 Federal Highway, Boynton Beach, Florida 33435, United States
$8,800,000
$241/SF
Building Size
36,511 SF
Asset Type
Hotel
Closing
Aug 21, 2022
AI
Located at 2821 S Federal Hwy in Boynton Beach, FL, this hotel was recently sold in a closed transaction. The sale took place on August 22, 2022, and the property was purchased by Shmuel Bonnardel, representing RORE Investment Group. The seller in this transaction was Kirit Shah.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,800,000
- Address: 2821 S Federal Hwy, Boynton Beach, FL
- Market: Boynton Beach, FL
The hotel spans across a total area of 36,511 square feet, resulting in a price per square foot of $241. It offers 104 keys, giving a per key price of $84,615.
RORE Investment Group, represented by Shmuel Bonnardel, acted as the buyer in this transaction. On the other hand, Kirit Shah served as the seller.
Please contact [email protected] or call (904) 310-0065 if you have any potential deals to offer. RORE Investment Group is currently seeking new opportunities in the market.
Players
Boynton Beach 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
1.80%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93