SMP Hospitality Acquires Hotel In Weeki Wachee, FL For $5.65M
9373 Cortez Boulevard, Weeki Wachee, Florida 34613, United States
$5,650,000
Building Size
—
Asset Type
Hotel
Closing
Nov 17, 2022
About this deal
AI
A hotel located at 9373 Cortez Blvd in Weeki Wachee, FL has been sold for a total price of $5,650,000. The property, owned by Maya Motels Inc, was purchased by SMP Hospitality, LLC. The transaction was facilitated by brokers Dennis S. Hopper & Randy B. Taylor from DSH Hotel Advisors. The hotel features a total of 68 keys, with a price per key of $83,088.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $5,650,000
- Address: 9373 Cortez Blvd, Weeki Wachee, FL
- Market: Weeki Wachee, FL
- Buyer: SMP Hospitality, LLC
- Seller: Maya Motels Inc
- Brokers: Dennis S. Hopper & Randy B. Taylor - DSH Hotel Advisors
Dennis S. Hopper & Randy B. Taylor from DSH Hotel Advisors played a crucial role in representing the buyer and seller during the transaction. The sale of this hotel demonstrates the demand and investment opportunities in the Weeki Wachee, FL market.
On the Map
$5,650,000
Hotel
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Weeki Wachee Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.81%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93