Corry Oakes Of OTO Development Acquires Hotel In Fort Walton For $23.6M

A hotel located at 380 Santa Rosa Blvd in Fort Walton has been sold for a price of $23,620,100. The property covers an area of 61,380 square feet, with a price per square foot of $385. The sale took place on February 28, 2022.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $23,620,100
• Address: 380 Santa Rosa Blvd, Fort Walton
• Market: Fort Walton

The buyer of the hotel is Corry Oakes from OTO Development, while the seller is Bruce McAlpin. The deal was facilitated by brokers David Altman, Robert Hunter, and Leo Reilly from Marcus & Millichap.

It's worth noting that the hotel consists of 100 keys, with a price per key of $236,201. This transaction showcases the robust hotel market in Fort Walton.