Mahesh Enterprises Acquires Hotel In Astoria, OR For $1.2M
SOLD
$1,200,000
Oregon
See Similar DealsHotel57,064 SF
Sold 06/01/2022
SOLD
Mahesh Enterprises Acquires Hotel In Astoria, OR For $1.2M
176 West Marine Drive, Astoria, Oregon 97103, United States
See Similar DealsHotel57,064 SF
Sold 06/01/2022
Summary
OREGON
Asset Type:Hotel
Price Per Square Foot:$21
Total Square Footage:57,064 SF
Transaction Type:Sale
The hotel property at 176 W Marine Dr in Astoria, OR has been sold for $1,200,000. The property spans 1.3 acres and offers a total of 57,064 square feet of space. The price per square foot for this transaction was $21. The sale took place on 06/01/2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $1,200,000
- Address: 176 W Marine Dr, Astoria, OR
- Acres: 1.3
- Square Footage: 57,064
- Price per Square Foot: $21
- Date: 06/01/2022
The buyer in this transaction is Mahesh Enterprises. Charles Conrow from Norris & Stevens represented Mahesh Enterprises as their buyer's representative. Mark Carnese from Cushman & Wakefield served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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