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Wellness Stay Acquires Hotel In Coral Gables For $3.83M With Seller's Rep By Andros Sarduy & Giovanni Vasquez

Property Image
SOLD
$4,000,000
Giovanni Vasquez
Andros Sarduy

Florida

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Hotel11,265 SF
Sold
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Property Image
SOLD

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

See Similar Deals
Hotel11,265 SF
Sold
Giovanni Vasquez
Andros Sarduy
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$355
Total Square Footage:11265 SF
Transaction Type:Sale

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.

Players

Andros Sarduy
Synergy Realty Advisors
Andros Sarduy
17 deals$79.6M volume
BROKER
Giovanni Vasquez
Synergy Realty Advisors
Giovanni Vasquez
8 deals$17.8M volume
BROKER

Details

SOLD
IMAGE: Andros Sarduy & Giovanni Vasquez DATE: 06/11/2021 ADDRESS: 4350 SW 8th St MARKET: Coral Gables ASSET TYPE: Hotel BUYER: Wellness Stay SELLER: Resorts Of Dade SELLER'S REP: Andros Sarduy @SarduyProperties, Giovanni Vasquez @Giovanni_Vasquezpa - @SynergyRealtyMiami ASKING PRICE: $4,000,000 SALE PRICE: $3,830,000 SF:11,265 ~ PPSF: $340 LOT SIZE: 31,867 YEAR BUILT: 1938 ~ PARKING SPACES: 40 ~ Development site/Medical

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49