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Zipper Enterprises Inc Sells Cobblestone Hotel & Suites In Killdeer For $4 Million
SOLD
$4,000,000
+ 2
North Dakota
See Similar DealsHotel
Sold 10/24/2024
SOLD
Zipper Enterprises Inc Sells Cobblestone Hotel & Suites In Killdeer For $4 Million
158 Rodeo Dr
See Similar DealsHotel
Sold 10/24/2024
+ 2
Summary
NORTH DAKOTA
Asset Type:Hotel
Transaction Type:Sale
The property involved in this transaction is the Cobblestone Hotel & Suites Killdeer, located at 158 Rodeo Dr, Killdeer, ND. The hotel comprises 44 rooms and includes an additional eight-unit apartment property. The sale price for this asset was $4,000,000, resulting in a price per key of $90,909.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $4,000,000
- Address: 158 Rodeo Dr
- Market: Killdeer, ND
- Seller: Zipper Enterprises, Inc
- Brokerage Firm: Marcus & Millichap
- Brokers Involved: Jake Erickson, Jared Plamann, Jon Ruzicka, Joseph Ferguson & Reed Gizinski
- Keys: 44
- PPK: $90,909
The sale was supported by $3.4 million in acquisition financing, which was arranged by Marcus & Millichap Capital Corporation, indicating an active involvement of the brokerage firm beyond the sale itself.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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