Marcus & Millichap Sells 55-Key Hotel In Alvin, TX For Undisclosed Amount
880 TX-35 Loop, Alvin, TX 77511, United States
Building Size
—
Asset Type
Hotel
Closing
Apr 17, 2023
AI
An hotel located at 880 S Loop 35 in Alvin, TX was recently sold. The transaction took place on 11/16/2022. The hotel has a total of 55 keys and sits on a 1.4-acre property in the Alvin market.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 880 S Loop 35
- Market: Alvin, TX
- Number of Keys: 55
- Acres: 1.4
The deal was facilitated by the brokers Andrew Frosch, Joseph Manuel, Allan Miller, and Chris Gomes. They represented the parties involved in the transaction on behalf of Marcus & Millichap.
Players
Alvin 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