Shreeji Hotels LLC Acquires Hotel In Gulfport, MS For $4.4M
SOLD
$4,400,000
Mississippi
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SOLD
Shreeji Hotels LLC Acquires Hotel In Gulfport, MS For $4.4M
9375 US Route 49, Gulfport, Mississippi 39503, United States
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Summary
MISSISSIPPI
Asset Type:Hotel
Transaction Type:Sale
A hotel located at 9375 US 49 in Gulfport, MS, has been sold in a recent transaction. The property was purchased by Shreeji Hotels LLC from NH Hotel LLC for a total sale price of $4,400,000. The hotel comprises 95 rooms and has a price per key of $46,316.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $4,400,000
- Address: 9375 US 49, Gulfport, MS
- Market: Gulfport, MS
- Buyer: Shreeji Hotels LLC
- Seller: NH Hotel LLC
- Brokers: Ahmed Kabani, Lucas Mondino & Suraj Dalal - Marcus & Millichap
- Keys: 95
- Price Per Key: $46,316
Ahmed Kabani, Lucas Mondino, and Suraj Dalal of Marcus & Millichap represented the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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