Marcus & Millichap Sells Best Western Hotel In Tampa For $7.6M
734 South Dale Mabry Highway
$7,575,000
Building Size
—
Asset Type
Hotel
Closing
Nov 8, 2023
AI
The 54-room Best Western hotel located at 734 South Dale Mabry Highway in Tampa, Florida has been sold for $7,575,000. The hotel was listed near this price, which reflects the strong demand in the Tampa market. The buyer is a partnership primarily based in Maryland and California.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $7,575,000
- Address: 734 South Dale Mabry Highway - Best Western Tampa
- Market: Tampa
The sale was facilitated by Leo Reilly and Robert Hunter from Marcus & Millichap. Leo Reilly and Robert Hunter represented the seller as brokers in this transaction.
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
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93