MCR Hotels Acquires 1.12 Acre Miami Springs Hotel From Concord Hospitality For $16.6M
SOLD
$16,580,000
Florida
See Similar DealsHotel
Sold 12/20/2022
SOLD
MCR Hotels Acquires 1.12 Acre Miami Springs Hotel From Concord Hospitality For $16.6M
3549 NW Le Jeune Rd, Miami, FL 33142
See Similar DealsHotel
Sold 12/20/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
The property involved in this transaction is a hotel located at 3549 LeJeune Road in Miami Springs. It sits on a plot of land measuring 1.12 acres. The sale took place on December 20, 2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $16,580,000
- Address: 3549 LeJeune Road, Miami Springs
- Market: Miami Springs
- Acres: 1.12
The buyer in this transaction was MCR Hotels, represented by Tyler Morse. The seller was Concord Hospitality, represented by Mark Laport. The sale price for the property was $16,580,000. The hotel has 135 keys, resulting in a price per key of $122,815.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$884,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,905.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,597.66
Annual Debt Service$943,171.90
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