RT2 Investments LLC Acquires Palm Harbor Hotel From Gold Sun Hospitality For $6.85M
37611 US Highway 19 North, Palm Harbor, FL, USA
$6,850,000
$153/SF
Building Size
44,750 SF
Asset Type
Hotel
Closing
Nov 26, 2021
About this deal
AI
A hotel located at 37611 U.S. Highway 19 N in Palm Harbor has been sold in a recent transaction. The property, consisting of 98 units, was purchased by RT2 Investments LLC from seller Gold Sun Hospitality for a sale price of $6,850,000. The price per unit was approximately $69,898, and the total square footage of the hotel is 44,750, resulting in a price per square foot of $153.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $6,850,000
- Address: 37611 U.S. Highway 19 N, Palm Harbor
- Market: Palm Harbor
- Buyer: RT2 Investments LLC
- Seller: Gold Sun Hospitality
- Number of Units: 98
- Price per Unit: $69,898
- Total Square Footage: 44,750
- Price per Square Foot: $153
RT2 Investments LLC acted as the buyer in this transaction, while Gold Sun Hospitality represented the seller. The deal represents a significant investment in the Palm Harbor market and highlights the ongoing activity in the hotel sector.
Players
Palm Harbor Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Browse Florida hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.32%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93