Wellness Stay Acquires Hotel In Coral Gables For $3.83M With Seller's Rep By Andros Sarduy & Giovanni Vasquez
4350 Southwest 8th Street, Coral Gables, FL 33134
$4,000,000
$355/SF
Building Size
11,265 SF
Asset Type
Hotel
Closing
Jun 11, 2020
About this deal
AI
The Hotel located at 4350 SW 8th St in Coral Gables has been sold in a transaction dated on 06/11/2021. The property, with a lot size of 31,867 square feet, was built in 1938 and offers 11,265 square feet of space. It features 40 parking spaces and is classified as a development site with potential for medical use.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $3,830,000
- Asking Price: $4,000,000
- Square Footage: 11,265
- Lot Size: 31,867
- Year Built: 1938
- Parking Spaces: 40
- Additional Uses: Development site/Medical
The buyer of the property is Wellness Stay, while the seller is Resorts Of Dade. Andros Sarduy from Sarduy Properties and Giovanni Vasquez from ynergy Realty Miami represented the seller in this transaction.
On the Map
$4,000,000
$355/SF
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93