Marcus & Millichap Brokers Sell Middleburg Heights Hotel For $8.7M
SOLD
$8,700,000
Hotel
Sold 02/02/2022
SOLD
Marcus & Millichap Brokers Sell Middleburg Heights Hotel For $8.7M
7230 Engle Road, Middleburg Hts, Ohio 44130, United States
See Similar DealsHotel
Sold 02/02/2022
Summary
OHIO
Asset Type:Hotel
Transaction Type:Sale
An $8.7 million hotel located at 7230 Engle Road in Middleburg Heights, Ohio has been sold. The transaction took place on February 2, 2022, and the property consists of 238 keys. The price per key was approximately $36,555.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $8,700,000
- Address: 7230 Engle Road, Middleburg Heights, Ohio
- Market: Middleburg Heights, Ohio
The sale was facilitated by Robert Hunter and Scott Havericak from Marcus & Millichap.
Please note that no additional information regarding the property or the transaction is available at this time.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$463,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26
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