Mahesh Enterprises Acquires Hotel In Astoria, OR For $1.2M
176 West Marine Drive, Astoria, Oregon 97103, United States
$1,200,000
$21/SF
Building Size
57,064 SF
Asset Type
Hotel
Closing
May 31, 2022
About this deal
AI
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.
Players
Astoria Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93