Vital Hospitality Group Acquires Hotel In Katy For $5.96M With Brokers Ahmed Kabani & Suraj Dalal - The Kabani Hotel Group - Marcus & Millichap; Tim Speck
SOLD
$5,960,000
Texas
See Similar DealsHotel75,762 SF
Sold 02/28/2022
SOLD
Vital Hospitality Group Acquires Hotel In Katy For $5.96M With Brokers Ahmed Kabani & Suraj Dalal - The Kabani Hotel Group - Marcus & Millichap; Tim Speck
2501 Texmati Drive, Katy, Texas 77494, United States
See Similar DealsHotel75,762 SF
Sold 02/28/2022
Summary
TEXAS
Asset Type:Hotel
Price Per Square Foot:$78
Total Square Footage:75,762 SF
Transaction Type:Sale
The Hotel property located at 2501 Texmati Drive in Katy has been sold. The property spans 1.56 acres and was sold on 02/28/2022. The transaction was handled by brokers Ahmed Kabani and Suraj Dalal from The Kabani Hotel Group at Marcus & Millichap, along with Tim Speck. The buyer of the property is Vital Hospitality Group.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $5,960,000
- Address: 2501 Texmati Drive, Katy
- Market: Katy
- Acres: 1.56
- Brokers: Ahmed Kabani & Suraj Dalal - The Kabani Hotel Group - Marcus & Millichap; Tim Speck
The property was sold for a total of $5,960,000. It comprises a total of 69 keys, resulting in a price per key of $86,377.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$317,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,174.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,253.44
Annual Debt Service$339,041.29
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