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Corry Oakes Of OTO Development Acquires Hotel In Fort Walton For $23.6M

380 Santa Rosa Boulevard
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This Hotel property located in FL was sold for $23,620,100 about 2 years ago. The brokers of the deal were David Altman, Leo Reilly, and Robert Hunter

A hotel located at 380 Santa Rosa Blvd in Fort Walton has been sold for a price of $23,620,100. The property covers an area of 61,380 square feet, with a price per square foot of $385. The sale took place on February 28, 2022.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $23,620,100
  • Address: 380 Santa Rosa Blvd, Fort Walton
  • Market: Fort Walton

The buyer of the hotel is Corry Oakes from OTO Development, while the seller is Bruce McAlpin. The deal was facilitated by brokers David Altman, Robert Hunter, and Leo Reilly from Marcus & Millichap.

It's worth noting that the hotel consists of 100 keys, with a price per key of $236,201. This transaction showcases the robust hotel market in Fort Walton.

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Deals
  • Location
    380 Santa Rosa Boulevard, Fort Walton Beach, Florida 32548, United States380 Santa Rosa Boulevard, Fort Walton Beach, Florida 32548, United States
  • Sale Price
    $23,620,100$23,620,100
    $384 PPSF$384 PPSF
  • Area
    61,380 SF61,380 SF
  • Asset Type
    HotelHotel
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Leo Reilly

Leo Reilly

Deals6
Sold$96.5M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Leo Reilly, David Altman & Robert Hunter DATE: 02/28/2022 ADDRESS: 380 Santa Rosa Blvd MARKET: Fort Walton ASSET TYPE: Hotel BUYER: Corry Oakes - OTO Development SELLER: Bruce McAlpin BROKERS: David Altman (@AltmanHotelAdvisor), Robert Hunter & Leo Reilly - Marcus & Millichap SALE PRICE: $23,620,100 KEYS: 100 ~ PPK: $236,201 SF: 61,380 ~ PPSF: $385

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380 Santa Rosa Boulevard

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