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Martignetti Real Estate Acquires Captain's Bounty On The Beach Hotel In Rockport For $10M
SOLD
$10,000,000
Massachusetts
See Similar DealsHotel
Sold 01/03/2025
SOLD
Martignetti Real Estate Acquires Captain's Bounty On The Beach Hotel In Rockport For $10M
1 Beach Street
See Similar DealsHotel
Sold 01/03/2025
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
The hotel asset located at 1 Beach Street in Rockport, MA, was acquired by Martignetti Real Estate for a sale price of $10,000,000. The renovated property includes 42 rooms, nine of which feature efficiency kitchens, and offers private balconies that provide views of Sandy Bay harbor.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $10,000,000
- Address: 1 Beach Street
- Market: Rockport, MA
- Keys: 42
- PPK: $238,095
Martignetti Real Estate completed the transaction to acquire Captain's Bounty on the Beach, which offers various accommodations suited for guests looking for efficiency and comfort in their stay.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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