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17 Pleasant Street

Horvath & Tremblay Represents Buyer In $2.5M Hotel Sale In Rockport, MA
SOLDHotel

Horvath & Tremblay Represents Buyer In $2.5M Hotel Sale In Rockport, MA

17 Pleasant Street

$2,500,000

$500/SF

Building Size

5,000 SF

Asset Type

Hotel

Closing

Mar 30, 2023

AI

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.

Players

Ann Olivo

J Barrett & Company

Broker

$3.6M

vol

2 deals

Broker

Market 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