Mohammed Fakhoury & Wisam Fakhoury Acquire Treasure Island Hotel For $2.1M
9630 Gulf Boulevard, Treasure Island, Florida 33706, United States
$2,100,000
$197/SF
Building Size
10,651 SF
Asset Type
Hotel
Closing
Mar 15, 2022
About this deal
AI
The hotel located at 9630 Gulf Blvd in Treasure Island, FL has been sold in a transaction that closed on 03/16/2022. The property, spanning a total of 10,651 square feet, was sold for a total price of $2,100,000, resulting in a price per square foot of $197. The seller of the hotel was Jozef Jachymiak, while Mohammed Fakhoury and Wisam Fakhoury acted as the buyers.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $2,100,000
- Address: 9630 Gulf Blvd, Treasure Island, FL
- Market: Treasure Island, FL
- Square Footage: 10,651
- Price per Square Foot: $197
Mohammed Fakhoury and Wisam Fakhoury were the buyers in this transaction, while Jozef Jachymiak represented the seller. The successful sale of this hotel signifies a significant milestone in the real estate market of Treasure Island, FL.
Players
Treasure Island Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93