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
About this deal
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.
On the Map
$12,550,000
$320/SF
Hotel
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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