SOLDHotel
Marcus & Millichap Brokers $13.5M Sale Of Holiday Inn Melbourne Viera In Florida
8298 North Wickham Road
$13,500,000
Building Size
—
Asset Type
Hotel
Closing
Mar 6, 2025
AI
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.
Players
Melbourne 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93