Karanjit Kahlon Acquires Hotel In Lynchburg, VA For $4.2M
5604 Seminole Avenue
$4,200,000
$157/SF
Building Size
26,626 SF
Asset Type
Hotel
Closing
Dec 16, 2023
About this deal
AI
The hotel located at 5604 Seminole Avenue in Lynchburg, VA has been sold for a price of $4,200,000. The property spans across 26,626 square feet, resulting in a price per square foot of $158. The transaction was completed on 12/16/2023.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $4,200,000
- Square Footage: 26,626
- Price per Square Foot: $158
The buyer of the hotel was Karanjit Kahlon, while Heren Patel served as the seller. The deal was facilitated by Anudeep Gosal of Besen Partners.
On the Map
$4,200,000
$157/SF
Hotel
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Players
Lynchburg Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93