Horvath & Tremblay Represents Buyer In $2.5M Hotel Sale In Rockport, MA
SOLD
$2,500,000
Massachusetts
See Similar DealsHotel5,000 SF
Sold 03/30/2023
SOLD
Horvath & Tremblay Represents Buyer In $2.5M Hotel Sale In Rockport, MA
17 Pleasant Street
See Similar DealsHotel5,000 SF
Sold 03/30/2023
Summary
MASSACHUSETTS
Asset Type:Hotel
Price Per Square Foot:$500
Total Square Footage:5,000 SF
Transaction Type:Sale
A hotel located at 17 Pleasant Street in Rockport, MA has been sold for $2,500,000. The property spans 5,000 square feet, resulting in a price per square foot of $500. The transaction took place on March 30, 2023.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $2,500,000
- Address: 17 Pleasant Street, Rockport, MA
- Market: Rockport, MA
- Seller: Roger C. Norris
- Buyer's Representative: Stephen Girolamo - Horvath & Tremblay
- Seller's Representative: Ann Olivo - J. Barrett & Company
Stephen Girolamo from Horvath & Tremblay represented the buyer in this transaction, while Ann Olivo from J. Barrett & Company served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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