facebook
Traded Co logo
Submit
Daily limit: 0/10

Onyx Hospitality Acquires Comfort Suites Miami-Kendall Hotel For $16M

Property Image
SOLD
$16,000,000

Florida

See Similar Deals
Hotel74,305 SF
Sold 07/11/2023
the dealplayerscompscontact
Property Image
SOLD

Onyx Hospitality Acquires Comfort Suites Miami-Kendall Hotel For $16M

3901 Southwest 117th Avenue Miami, Florida 33175, USA

See Similar Deals
Hotel74,305 SF
Sold 07/11/2023
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$215
Total Square Footage:74,305 SF
Transaction Type:Sale

The Comfort Suites Miami-Kendall, located at 3901 Southwest 117th Avenue in Kendall, has been sold for $16 million. The 132-room hotel sits on a 2.3-acre property and offers amenities such as a pool and fitness center. The sale price equates to a price per key of $121,212 and a price per square foot of $215. The transaction took place on July 11, 2023.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $16,000,000
  • Address: 3901 Southwest 117th Avenue, Kendall
  • Market: Kendall
  • Acreage: 2.3

Onyx Hospitality, represented by Sameet Patel, acquired the Comfort Suites Miami-Kendall from the Litowitz Group, represented by Budd W. Litowitz. The lender for the transaction was Sungold. The hotel features a total of 74,305 square feet and includes 132 keys.

Players

S
Sungold
LENDER

Details

SOLD
IMAGE: 07/11/2023 ADDRESS: 3901 Southwest 117th Avenue - The Comfort Suites Miami-Kendall MARKET: Kendall ASSET TYPE: Hotel ~ ACRES: 2.3 BUYER: Onyx Hospitality - Sameet Patel SELLER: Litowitz Group - Budd W. Litowitz LENDER: Sungold SALE PRICE: $16,000,000 KEYS: 132 ~ PPK: $121,212 SF: 74,305 ~ PPSF: $215 NOTE: Boca Raton hospitality group Onyx Kendall Hotel LLC has purchased the Comfort Suites Miami-Kendall for $16 million. The 132-room hotel, located at 3901 S.W. 117th Ave., offers amenities such as a pool and fitness center.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$853,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95