Ahmed Kabani's Marcus & Millichap Brokers $8.4M Sale Of Gainesville Hotel
2900 Southwest 13th Street, Gainesville, FL, USA
$8,400,000
$89/SF
Building Size
93,762 SF
Asset Type
Hotel
Closing
Apr 20, 2021
About this deal
AI
A hotel located at 2900 SW 13th St in Gainesville was recently sold for $8,400,000. The transaction took place on April 21, 2021. The hotel features 197 rooms, with a price per room (PPR) of $42,640. The property was listed and represented by Ahmed Kabani from Marcus & Millichap.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $8,400,000
- Address: 2900 SW 13th St, Gainesville
- Market: Gainesville
- Rooms: 197
- Price per Room: $42,640
Ahmed Kabani from Marcus & Millichap played a key role as the broker representing the parties involved in the sale of the hotel.
Players
Gainesville 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
1.89%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93