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

Property Image
SOLD
$7,550,000
Taj Patel
AP

Florida

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Hotel67,518 SF
Sold 07/14/2022
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Property Image
SOLD

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

4123 Northlake Boulevard

See Similar Deals
Hotel67,518 SF
Sold 07/14/2022
Taj Patel
AP
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$111
Total Square Footage:67,518 SF
Transaction Type:Sale

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
Taj Patel
3 deals$19.2M volume
BROKER
AP
Ashok Patel
2 deals$16.8M volume
SELLER

Details

SOLD
IMAGE: Taj Patel DATE: 07/14/2022 ADDRESS: 4123 Northlake Blvd MARKET: Palm Beach Gardens ASSET TYPE: Hotel SELLER: Ashok Patel BROKER: Taj Patel (@TajPatel95) - GPT Commercial SALE PRICE: $7,550,000 KEYS: 95 ~ PPK: $79,474 SF: 67,518 ~ PPSF: $112 NOTE FROM BROKER: GPT Commercial is excited to announce the off-market hotel closing located in Palm Beach Gardens! GPT Commercial swiftly assisted the seller in a smooth and easy transaction. Please don’t hesitate to reach out if you are looking to buy or sell! [email protected] 561-859-9739 GPTcommercial.com

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$26,823.55
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