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
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