MCR Hotels Acquires 1.12 Acre Miami Springs Hotel From Concord Hospitality For $16.6M
3549 NW Le Jeune Rd, Miami, FL 33142
$16,580,000
Building Size
—
Asset Type
Hotel
Closing
Dec 20, 2022
AI
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.
Players
Miami 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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93