Marcus & Millichap Sells 122-Room Holiday Inn & Suites Waco Northwest In Texas
1801 N Development Blvd, Waco, TX 76705, United States
Building Size
—
Asset Type
Hotel
Closing
May 19, 2023
AI
The 122-room Holiday Inn & Suites Waco Northwest in Texas has been sold. The property is located at 1801 North Development Boulevard and is part of the hotel asset type. The deal was handled by Skyler Cooper of Marcus & Millichap's Dallas office. The transaction took place in the Waco market.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 1801 North Development Boulevard - Holiday Inn & Suites Waco Northwest
- Market: Waco
- Keys: 122
Skyler Cooper, along with Chris Gomes and Allan Miller, represented The Miller-Gomes Hotel Team of Marcus & Millichap in the sale of the Holiday Inn & Suites Waco Northwest. The deal involved a limited liability company serving as both the seller and the buyer.
Players
Texas 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93