Gilad Ovaknin Acquires Daytona Beach Hotel For $12.5M
301 South Atlantic Avenue
$12,550,000
$320/SF
Building Size
39,204 SF
Asset Type
Hotel
Closing
Dec 21, 2022
AI
The hotel located at 301 South Atlantic Avenue in Daytona Beach has been sold for a total price of $12,550,000. The property spans a total area of 39,204 square feet, resulting in a price per square foot of $320. The transaction took place on December 21, 2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $12,550,000
- Address: 301 South Atlantic Avenue, Daytona Beach
- Market: Daytona Beach
- Buyer: Gilad Ovaknin
- Seller: Bhakta Sahdev
- Brokers: Ahmed Kabani, Kian Mclean & Lucas Mondino - Marcus & Millichap
- Square Footage: 39,204
- Price per Square Foot: $320
Ahmed Kabani, Kian Mclean, and Lucas Mondino from Marcus & Millichap represented the parties involved in the transaction as the brokers. They facilitated the deal between the buyer, Gilad Ovaknin, and the seller, Bhakta Sahdev.
Players
Daytona 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
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93