Marcus & Millichap Sells Hotel In Miami Lakes For $12.35M With 94 Keys

The asset involved in the transaction is a hotel located at 8079 Northwest 154th Street in the Miami Lakes market. The sale price was $12,350,000 for the property, which consists of 94 keys and has a total square footage of 47,227, yielding a price per key of $131,382 and a price per square foot of $261.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $12,350,000
• Keys: 94
• Price per Key: $131,382
• Square Footage: 47,227
• Price per Square Foot: $261
• Sale Price excluding personal property: $11,650,000
• Additional amount for personal property: $700,000

The brokers representing the transaction were Jonathan De La Rosa, Robert Hunter, and Leo Reilly from Marcus & Millichap. Their involvement facilitated the completion of this sale in the Miami Lakes area.