SOLDHotel
Marcus & Millichap Brokers Sell Venice Hotel For $13.4M
425 U.S. 41 Bypass North, Venice, FL, USA
$13,400,000
$4,255/SF
Building Size
3,149 SF
Asset Type
Hotel
Closing
Nov 2, 2021
AI
A hotel located at 425 U.S. 41 Bypass N in Venice has been sold for $13,400,000. The property consists of 146 keys and has a price per key of $91,781. The sale took place on November 2, 2021.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $13,400,000
- Address: 425 U.S. 41 Bypass N
- Market: Venice
- Keys: 146
- Price Per Key: $91,781
The sale of the hotel was facilitated by Gabriel Shamay, Christopher Passeggiata, David M. Greenberg, and Ely Silverstein from Marcus & Millichap.
Players
Venice 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93