Marcus & Millichap Sells 210-Key Hotel In Austin
3401 South Interstate 35, Austin, Texas 78741, United States
Building Size
127,866 SF
Asset Type
Hotel
Closing
Feb 3, 2022
AI
The recently closed property transaction in Austin involved a hotel located at 3401 South IH-35. The hotel comprises of 210 keys, making it a sizeable asset in the market. The deal was facilitated by Allan Miller, Chris Gomes, and Matt Omansky from the renowned real estate brokerage Marcus & Millichap.
Summary of transaction details
- Property Type: Hotel
- Transaction Date: 02/04/2022
- Address: 3401 South IH-35
- Market: Austin
- Keys: 210
- Brokers: Allan Miller, Chris Gomes, and Matt Omansky - Marcus & Millichap
The involvement of Marcus & Millichap, represented by Allan Miller, Chris Gomes, and Matt Omansky, highlights their expertise in the hospitality sector. Their successful collaboration led to the completion of this hotel transaction in Austin, showcasing their dedication and proficiency in the real estate market.
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