Private Investor Acquires Property In Beaumont With Seller's Representatives From Marcus & Millichap And HVS
2030 N 11th St, Beaumont, TX, 77703
Building Size
—
Asset Type
Hotel
Closing
Nov 19, 2023
About this deal
AI
The transaction involved the sale of the Econo Lodge Inn & Suites Beaumont hotel, a 53-room property located at 2030 N 11th St, Beaumont, TX, 77703. The property was listed for $3.3 million, with a market presence in Beaumont. The total square footage is not specified.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $3.3 million
- Address: 2030 N 11th St, Beaumont, TX, 77703
- Market: Beaumont
- Seller's Representative: Louis Dan, Allan Miller - Marcus & Millichap, Andrew Frosch - HVS Brokerage & Advisory, Christopher Gomes - Marcus & Millichap
- Buyer: Private Investor
The seller was a private investor, represented by a team including Louis Dan, Allan Miller, Andrew Frosch, and Christopher Gomes. The buyer of the property is an undisclosed private investor based in California.
On the Map
Hotel
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Beaumont Hotel Market Snapshot
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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