Prem Patel Acquires Hotel In Orlando For $17.75M With Brokers Ahmed Kabani, Suraj Dalal & Luis Garino - Marcus & Millichap; Seller Alpesh Khusha
SOLD
$17,750,000
+ 1
Florida
See Similar DealsHotel108,880 SF
Sold 04/18/2022
SOLD
Prem Patel Acquires Hotel In Orlando For $17.75M With Brokers Ahmed Kabani, Suraj Dalal & Luis Garino - Marcus & Millichap; Seller Alpesh Khusha
8300 Jamaican Court, Orlando, Florida 32819, United States
See Similar DealsHotel108,880 SF
Sold 04/18/2022
+ 1
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$163
Total Square Footage:108,880 SF
Transaction Type:Sale
The Hotel located at 8300 Jamaican Ct in Orlando has been sold for a price of $17,750,000. The property, spanning 108,880 square feet, was purchased by Prem Patel from the seller Alpesh Khusha.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $17,750,000
- Date: 04/18/2022
- Address: 8300 Jamaican Ct, Orlando
- Market: Orlando
The deal was facilitated by brokers Ahmed Kabani, Suraj Dalal, and Luis Garino from Marcus & Millichap, along with Dennis Hopper from DSH.
Notable details of the property include 200 keys, resulting in a price per key (PPK) of $88,750. The price per square foot (PPSF) for the hotel is $163.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$946,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,062.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,144.06
Annual Debt Service$1,009,728.67
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