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4123 Northlake Boulevard

Ashok Patel Sells Hotel In Palm Beach Gardens For $7.55M With Taj Patel - GPT Commercial
SOLDHotel

Ashok Patel Sells Hotel In Palm Beach Gardens For $7.55M With Taj Patel - GPT Commercial

4123 Northlake Boulevard

$7,550,000

$111/SF

Building Size

67,518 SF

Asset Type

Hotel

Closing

Jul 14, 2022

AI

A hotel located at 4123 Northlake Blvd in Palm Beach Gardens has been sold for a price of $7,550,000. The property spans 67,518 square feet and has a price per square foot of $112. The transaction involved the sale of the hotel, with the seller being Ashok Patel.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $7,550,000
  • Address: 4123 Northlake Blvd
  • Market: Palm Beach Gardens
  • Square Feet: 67,518
  • Price per Square Foot: $112

Taj Patel from GPT Commercial represented Ashok Patel as the broker in this transaction. GPT Commercial facilitated a smooth and efficient off-market closing for the hotel. For those interested in buying or selling properties, Taj Patel can be contacted at [email protected] or 561-859-9739. More information can be found at GPTcommercial.com.

Players

Taj Patel

Broker

$19.2M

vol

3 deals

Broker

Ashok Patel

Seller

$16.8M

vol

2 deals

Seller

Palm Beach Gardens 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

2.10%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93