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Marcus & Millichap Arranges $12.9M Sale Of 95-Room AVID Hotel In Summerville SC
SOLD
$12,900,000
+ 4
South Carolina
See Similar DealsHotel
Sold 04/15/2025
SOLD
Marcus & Millichap Arranges $12.9M Sale Of 95-Room AVID Hotel In Summerville SC
301 Holiday Drive
See Similar DealsHotel
Sold 04/15/2025
+ 4
Summary
SOUTH CAROLINA
Asset Type:Hotel
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$688,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,830.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,152.58
Annual Debt Service$733,830.98
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