Dharma Malempati Acquires Tampa Hotel On S Dale Mabry Hwy For $10M
601 South Dale Mabry Highway, Tampa, Florida 33609, United States
$10,000,000
$273/SF
Building Size
36,600 SF
Asset Type
Hotel
Closing
Aug 30, 2022
About this deal
AI
The recently closed property transaction in Tampa involves a hotel located at 601 S Dale Mabry Hwy. The sale was facilitated by brokers Ely Silverstein, David Greenberg, Gabriel Shamay, and Christopher Passeggiata from Marcus & Millichap, representing the seller, Joe Pupello. The buyer, Dharma Malempati, acquired the property for a total price of $10,000,000. The hotel spans approximately 36,600 square feet, resulting in a price per square foot of $273.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $10,000,000
- Address: 601 S Dale Mabry Hwy
- Market: Tampa
- Brokers: Ely Silverstein, David Greenberg, Gabriel Shamay - Christopher Passeggiata - Marcus & Millichap
The key individuals involved in the deal were Dharma Malempati as the buyer and Joe Pupello as the seller. The transaction was successfully negotiated by the team of brokers, Ely Silverstein, David Greenberg, Gabriel Shamay, and Christopher Passeggiata, representing Marcus & Millichap. Together, they facilitated the purchase of the hotel property, contributing to the successful closing of the transaction.
On the Map
$10,000,000
$273/SF
Hotel
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Players
Tampa 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93