Kevin Patel And Andy Patel Acquire Hotel Asset From Chetankumar Patel With Rorik Seth As Seller's Rep
5525 Seventh St.
Building Size
16,937 SF
Asset Type
Hotel
Closing
Jun 10, 2026
AI
The Scottish Inn & Suites, a limited-service hotel featuring 39 keys, was successfully sold by Seth Equities. The property encompasses a total of 16,937 square feet and is located at 5525 Seventh Street in Bay City, Texas, set on a 1.2-acre site in Matagorda County, approximately 75 miles southwest of Houston.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Undisclosed
- Address: 5525 Seventh Street
- Market: Bay City
- Asset Size: 39 keys
- Square Footage: 16,937 SF
- Seller: Chetankumar Patel
- Buyer: Kevin Patel & Andy Patel
- Seller's Representative: Rorik Seth - Seth Equities
- Sale Method: Ten-X online auction
The transaction was represented by Rorik Seth, the Principal and Managing Broker at Seth Equities. The auction process facilitated a competitive and efficient closing for the seller’s interests.
Market 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