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
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.
Players
Lynchburg 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93