Sanjay Patel Acquires Comfort Suites Hotel In Vero Beach For $8.7M With Broker Taj Patel - GPT Commercial
SOLD
$8,700,000
Florida
See Similar DealsHotel44,067 SF
Sold 12/07/2022
SOLD
Sanjay Patel Acquires Comfort Suites Hotel In Vero Beach For $8.7M With Broker Taj Patel - GPT Commercial
9050 Americana Way
See Similar DealsHotel44,067 SF
Sold 12/07/2022
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$197
Total Square Footage:44,067 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$463,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26
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