Marcus & Millichap Arranges $12.9M Sale Of 95-Room AVID Hotel In Summerville SC
301 Holiday Drive
$12,900,000
Building Size
—
Asset Type
Hotel
Closing
Apr 15, 2025
AI
301 Holiday Drive is a hotel property located in Summerville, SC, which recently sold for $12,900,000. The asset comprises 95 units, resulting in a price per unit of $135,789.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $12,900,000
- Units: 95
- Price Per Unit: $135,789
- Date of Sale: 04/15/2025
- Market: Summerville, SC
The transaction was facilitated by multiple brokers from Marcus & Millichap, including Allan Miller, Chase Dewese, Christopher Gomes, Jack Davis, Joce Messinger, Sam Gardner, and Skyler Cooper, who represented the sale of the AVID Summerville property, a 95-room hotel situated near Charleston, SC.
Players
Summerville 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
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93