facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Texas

/

Hotel

/

Sale

/

902 West Interstate 20

Marcus & Millichap Brokers Sale Of Quality Inn Hotel In Midland, Texas
SOLDHotel

Marcus & Millichap Brokers Sale Of Quality Inn Hotel In Midland, Texas

902 West Interstate 20

Building Size

Asset Type

Hotel

Closing

May 14, 2024

AI

The Quality Inn Midland, a 68-room hospitality property located at 902 West Interstate 20 in Midland, Texas, was recently sold. The property offers amenities such as a hot breakfast bar, indoor pool, meeting facilities, and fitness center, enhancing its appeal in the market.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: Not specified
  • Keys: 68
  • Address: 902 West Interstate 20 - Quality Inn Midland
  • Market: Midland

Chris Gomes and Allan Miller, along with Matthew Omansky, represented by Marcus & Millichap, facilitated the sale of the Quality Inn Midland. The transaction was finalized within 21 days of listing, showcasing the team's expertise in hotel sales, particularly in the Midland/Odessa area.

Players

Allan Miller

Marcus & Millichap

Broker

$162.9M

vol

51 deals

Broker

Midland Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

Loading comparables…

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