Continental Properties Acquires Surfside Hotel On 1.7 Acres For $69.9M
SOLD
$69,900,000
Florida
See Similar DealsHotel74,465 SF
Sold 12/17/2021
SOLD
Continental Properties Acquires Surfside Hotel On 1.7 Acres For $69.9M
9200 Collins Avenue, Surfside, FL 33154
See Similar DealsHotel74,465 SF
Sold 12/17/2021
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$938
Total Square Footage:74,465 SF
Transaction Type:Sale
The property involved in this closed transaction is a hotel located at 9200 Collins Avenue in Surfside. The hotel sits on a 1.7-acre parcel of land and was sold on 12/17/2021.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $69,900,000
- Address: 9200 Collins Avenue
- Market: Surfside
- Acres: 1.7
The buyer of the property is Continental Properties, while the seller is Hotel Development Group, represented by Allen O’Brien. Bill Hodges and Clint Hodges from Hodges Ward Elliott acted as the seller's representatives in this deal.
The property was sold for a price of $69,900,000. It consists of 175 keys, and the price per key (PPK) amounts to $399,429.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,727,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$248,339.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$331,361.66
Annual Debt Service$3,976,339.94
Is there something missing? Send suggestions