Victory International USA Acquires Hotel In Miami Beach For $12.8M
SOLD
$12,800,000
Florida
See Similar DealsHotel24,534 SF
Sold
SOLD
Victory International USA Acquires Hotel In Miami Beach For $12.8M
956 Washington Avenue, Miami Beach, FL 33139
See Similar DealsHotel24,534 SF
Sold
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$521
Total Square Footage:24,534 SF
Transaction Type:Sale
The property involved in this closed transaction is a hotel located at 956 Washington Avenue in Miami Beach. The hotel was sold by Luca Quadroni. The buyer, Victory International USA, was represented by Anil K., Rajni B., and Sean Monga. The sale was facilitated by Susan Gale of ONE Sotheby’s International Realty. The transaction took place on September 8, 2021.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $12,800,000
- Address: 956 Washington Avenue
- Market: Miami Beach
The hotel consists of 42 keys with a selling price per key of $303,571. It spans a total area of 24,534 square feet, resulting in a price per square foot of $520.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$682,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,475.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,678.53
Annual Debt Service$728,142.36
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