Noble Investment Group Acquires Hotel In Raleigh For $57.7M
SOLD
$57,700,000
North Carolina
See Similar DealsHotel
Sold 09/30/2022
SOLD
Noble Investment Group Acquires Hotel In Raleigh For $57.7M
4100 Main at North Hills Street, Raleigh, North Carolina 27609, United States
See Similar DealsHotel
Sold 09/30/2022
Summary
NORTH CAROLINA
Asset Type:Hotel
Transaction Type:Sale
The property involved in this transaction is a hotel located at 4100 Main at North Hills St in Raleigh, NC. The sale took place on September 30, 2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $57,700,000
- Buyer: Noble Investment Group
- Keys: 229
- Price per Key: $251,965
Noble Investment Group acted as the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,077,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$204,995.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$273,527.44
Annual Debt Service$3,282,329.25
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