Marcus & Millichap Brokers Sale Of Best Western Plus French Lick Hotel For $7.5M
613 South Arnold F Habig Boulevard - Best Western Plus French Lick
$7,500,000
Building Size
—
Asset Type
Hotel
Closing
May 8, 2023
AI
The Best Western Plus French Lick, a 68-key hotel in southern Indiana, has been sold for $7.5 million. The property features amenities such as a business center, indoor pool, fitness center, and complimentary breakfast. It is located at 613 South Arnold F Habig Boulevard in French Lick, Indiana.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $7,500,000
- Keys: 68
- Price per Key: $110,294
- Market: Indiana
The sale of the Best Western Plus French Lick was brokered by Josh Caruana, Scott Havericak, and Robert S. Hunter from Marcus & Millichap. They represented the buyer and seller in the transaction. The property was purchased by an Indiana-based limited liability company.
Players
French Lick 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93