Sanjay Patel Acquires Comfort Suites Hotel In Vero Beach For $8.7M With Broker Taj Patel - GPT Commercial
9050 Americana Way
$8,700,000
$197/SF
Building Size
44,067 SF
Asset Type
Hotel
Closing
Dec 7, 2022
AI
Taj Patel is excited to announce the closing of the Comfort Suites located at 9050 Americana Way in Vero Beach, FL. This hotel property spans 44,067 square feet and was sold for a total of $8,700,000, resulting in a price per square foot of $197.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $8,700,000
- Square Feet: 44,067
- Price per Square Foot: $197
- Address: 9050 Americana Way, Vero Beach
- Market: Vero Beach
Taj Patel, representing GPT Commercial, played a significant role as the broker in this transaction. The buyer, Sanjay Patel, and the seller, also Sanjay Patel, successfully completed this smooth and seamless sale of the Comfort Suites in Vero Beach, FL. For any commercial real estate buying or selling needs, feel free to contact Taj Patel at [email protected] or 561-859-9739. You can also visit the GPT Commercial website at www.GPTCommercial.com.
Players
Vero Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93