Pedro Marrero Acquires 192-Key Orlando Hotel For $19.75M With Ahmed Kabani & Luis Garino - Marcus & Millichap
SOLD
$19,750,000
Florida
See Similar DealsHotel66,297 SF
Sold 05/20/2022
SOLD
Pedro Marrero Acquires 192-Key Orlando Hotel For $19.75M With Ahmed Kabani & Luis Garino - Marcus & Millichap
5859 American Way, Orlando, Florida 32819, United States
See Similar DealsHotel66,297 SF
Sold 05/20/2022
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$297
Total Square Footage:66,297 SF
Transaction Type:Sale
The property involved in this transaction is a hotel located at 5859 American Way in Orlando. It consists of 192 keys and spans a total of 66,297 square feet. The sale took place on May 20, 2022, with a sale price of $19,750,000. This transaction represents the highest exterior corridor price per door sale in the history of the Orlando Market.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $19,750,000
- Address: 5859 American Way
- Market: Orlando
- Keys: 192
- Brokers: Ahmed Kabani & Luis Garino - Marcus & Millichap
Ahmed Kabani and Luis Garino, representing Marcus & Millichap, facilitated the deal as brokers. They can be contacted at [email protected] and [email protected] respectively. For any inquiries about the property, Ahmed Kabani can be reached at 786-522-7023 and Luis Garino at 786-522-7124.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,053,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,167.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$93,625.08
Annual Debt Service$1,123,500.91
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