facebook
Traded Co logo
Submit
Daily limit: 0/10

Marcus & Millichap Sells Best Western Hotel In Tampa For $7.6M

Property Image
SOLD
$7,575,000
Leo Reilly
Robert Hunter

Florida

See Similar Deals
Hotel
Sold 11/08/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Sells Best Western Hotel In Tampa For $7.6M

734 South Dale Mabry Highway

See Similar Deals
Hotel
Sold 11/08/2023
Leo Reilly
Robert Hunter
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Sale

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

Robert Hunter
Marcus & Millichap
Robert Hunter
18 deals$190.4M volume
BROKER
Leo Reilly
Marcus & Millichap
Leo Reilly
10 deals$140.5M volume
BROKER

Details

SOLD
IMAGE: Leo Reilly & Robert Hunter DATE: 11/08/2023 ADDRESS: 734 South Dale Mabry Highway - Best Western Tampa MARKET: Tampa ASSET TYPE: Hotel BROKERS: Leo Reilly & Robert Hunter - Marcus & Millichap (@MarcusMillichap_Fl) SALE PRICE: $7,575,000 KEYS: 54 ~ PPK: $140,278 NOTE: Marcus & Millichap has sold the 54-room Best Western hotel in Tampa, Florida, for $7,575,000 to a partnership mainly based in Maryland and California. The sale was near the list price, reflecting the strong market demand for the Tampa area, as stated by Robert Hunter, senior vice president investments at Marcus & Millichap.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$403,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,912.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,909.36
Annual Debt Service$430,912.38