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2940 Gulf to Bay BLVD, Clea...

Prism Development LLC Acquires Clearwater Property From Mega C Hospitality LLC Represented By Dennis Hopper
SOLDHotel

Prism Development LLC Acquires Clearwater Property From Mega C Hospitality LLC Represented By Dennis Hopper

2940 Gulf to Bay BLVD, Clearwater, F...

Building Size

Asset Type

Hotel

Closing

Nov 19, 2023

AI

Days Inn By Wyndham is a 90-room hotel located at 2940 Gulf to Bay Blvd in Clearwater, Florida. The property is situated approximately 13.6 miles from Tampa International Airport and six miles from Clearwater Beach. The square footage of the hotel is not specified.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: Not disclosed
  • Buyer: Prism Development LLC
  • Seller: Mega C Hospitality LLC
  • Buyer's Representative: Dennis Hopper - DSH Hotel Advisors
  • Seller's Representative: Randy Taylor - DSH Hotel Advisors
  • Market: Clearwater

The transaction was executed by DSH Hotel Advisors, a hotel brokerage and advisory firm based in Tampa. Both the buyer and seller were represented by Dennis Hopper and Randy Taylor of DSH Hotel Advisors, showcasing the firm's involvement in facilitating the sale.

Players

Dennis Hopper

DSH Hotel Advisors

Broker

$66M

vol

9 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93