SOLDHotel
Marcus & Millichap Sells 86-Room Best Western Plus In Austin With Rep Chris Gomes & Allan Miller
2021 Cheddar Loop
Building Size
—
Asset Type
Hotel
Closing
Feb 26, 2025
AI
The property involved in this transaction is an 86-room hotel located at 2021 Cheddar Loop Road, which is the Best Western Plus in North Austin. The asset encompasses 2.7 acres of land and is positioned in the Austin market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 2021 Cheddar Loop Road - Best Western Plus
- Market: Austin
- Keys: 86
- Acres: 2.7
Allan Miller and Chris Gomes from Marcus & Millichap brokered the sale, representing both the anonymous seller and buyer in this transaction.
Players
Austin 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