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Marcus & Millichap Brokers $13.5M Sale Of Holiday Inn Melbourne Viera In Florida
SOLD
$13,500,000
Florida
See Similar DealsHotel
Sold 03/06/2025
SOLD
Marcus & Millichap Brokers $13.5M Sale Of Holiday Inn Melbourne Viera In Florida
8298 North Wickham Road
See Similar DealsHotel
Sold 03/06/2025
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
The 128-room Holiday Inn Melbourne Viera, located at 8298 North Wickham Road in Melbourne, Florida, was sold for $13,500,000. This hotel property has a per key price of $105,469.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $13,500,000
- Market: Melbourne
- Asset Key Count: 128
- Price Per Key: $105,469
Robert Hunter and Leo Reilly, representing the seller, were the brokers involved in this transaction through Marcus & Millichap. They successfully sourced an undisclosed buyer for the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65
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