Riley Park Acquires Hotel In Boynton Beach For $6M
6666 North Ocean Boulevard, Boynton Beach, Florida 33435, United States
$6,000,000
$752/SF
Building Size
7,974 SF
Asset Type
Hotel
Closing
Jul 31, 2022
AI
The hotel/motel/hostel/B&B located at 6666 N Ocean Blvd in Boynton Beach, FL has been sold in a recent transaction. The property spans across 7,974 square feet and was sold for a price of $6,000,000, resulting in a price per square foot of $752.
Summary of transaction details
- Property Type: Hotel/Motel/Hostel/B&B
- Transaction Amount: $6,000,000
- Address: 6666 N Ocean Blvd, Boynton Beach, FL
- Market: Boynton Beach, FL
The buyer of the property is Riley Park, while the sellers are Kyle Felty and Robert T. Wolfenden.
Players
Boynton Beach 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93