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4585 S Harding St, Indianap...

Marcus & Millichap Brokers Sell Indianapolis Hotel For $2.5M
SOLDHotel

Marcus & Millichap Brokers Sell Indianapolis Hotel For $2.5M

4585 S Harding St, Indianapolis, Indiana, USA

$2,500,000

$87/SF

Building Size

28,498 SF

Asset Type

Hotel

Closing

Nov 12, 2021

AI

A hotel located at 4585 S. Harding St. in Indianapolis, IN has been sold for $2,500,000. The property consists of 72 keys and has a price per key of $34,722.

Summary of transaction details:

  • Property Type: Hotel
  • Sale Price: $2,500,000
  • Number of Keys: 72
  • Price Per Key: $34,722
  • Address: 4585 S. Harding St., Indianapolis, IN
  • Market: Indianapolis, IN

The sale of the hotel was facilitated by the Marcus & Millichap brokerage firm, with Ebrahim Valliani, Michael Klar, Chris Gomes, Allan Miller, Robert Marro, Alexandre Duong, and Alex Fifner representing the deal.

Players

Allan Miller

Marcus & Millichap

Broker

$162.9M

vol

51 deals

Broker

Indianapolis 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93