Shmuel Bonnardel's RORE Investment Group Acquires Hotel In West Palm Beach For $12.95M
SOLD
$12,950,000
Florida
See Similar DealsHotel41,703 SF
SOLD
Shmuel Bonnardel's RORE Investment Group Acquires Hotel In West Palm Beach For $12.95M
5981 Okeechobee Blvd, West Palm Beach, FL 33417, USA
See Similar DealsHotel41,703 SF
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$310
Total Square Footage:41,703 SF
Transaction Type:Sale
A hotel located at 5981 Okeechobee Blvd in West Palm Beach has been sold in a recent transaction. The property, consisting of 41,703 square feet, was sold for a price of $12,950,000. The sale price per square foot equates to $311. The hotel comprises 114 keys, resulting in a price per key of $113,596.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $12,950,000
- Square Footage: 41,703
- Address: 5981 Okeechobee Blvd
- Market: West Palm Beach
- Buyer: Shmuel Bonnardel - RORE Investment Group
- Keys: 114
Shmuel Bonnardel, representing RORE Investment Group, acted as the buyer in this transaction. The buyer can be contacted at [email protected] or (904) 310-0065.
Note from Buyer: We are buying now! Bring Rore Investing your deals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$690,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,008.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,389.61
Annual Debt Service$736,675.28
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