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C & K Hotel Development, LLC Sells Holiday Inn Express In Raceland For $4.62M
SOLD
$4,620,000
+ 1
Louisiana
See Similar DealsHotel
Sold 02/07/2024
SOLD
C & K Hotel Development, LLC Sells Holiday Inn Express In Raceland For $4.62M
4716 Louisiana Highway 1
See Similar DealsHotel
Sold 02/07/2024
+ 1
Summary
LOUISIANA
Asset Type:Hotel
Transaction Type:Sale
The Holiday Inn Express & Suites located at 4716 Louisiana Highway 1 in Raceland, LA, has been sold for $4,620,000. The property features 175 keys with a price per key of $26,400.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $4,620,000
- Address: 4716 Louisiana Highway 1
- Market: Raceland, LA
- Seller: C & K Hotel Development, LLC
- Brokers: Adam Sklaver, David Altman, Philip Kates & Steve Greer - Marcus & Millichap
Marcus & Millichap facilitated the transaction of the Holiday Inn Express & Suites in Raceland, Louisiana. The deal involved key individuals such as Adam Sklaver, David Altman, Philip Kates, and Steve Greer, representing the seller, C & K Hotel Development, LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$246,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,413.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,901.16
Annual Debt Service$262,813.88
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