This isn't just a major airport hotel; this is 5The Miami red Radisson Hotel, near the Miami International hotel, has 157 keys in the hottest real estate market in America @ a 9% cap
Purchase price per seller was $34,000,000, plus the buyer paid 3% of the real estate commission needed
Subject property address:
Radisson red Miami airport hotel
3401 nw 25th street
Miami, Florida, 33142
As is very typical of hotels throughout the United States, with this being a national brand hotel in one of the major cities in the United States, the seller will gladly provide the buyer with the franchise agreement & any and all other facts, figures, and documentation in the formal due diligence period. The buyer which needs to own hotels or franchise hotels in their portfolio as the buyer will need to qualify with choice hotels, the parent company of radisson.
The seller or franchisee wants the qualified buyer to know of this 157 full-service airport hotel that the net operating income is approximately $3,000,000 annually, and like most hotels and specific airport hotels that got hit extremely hard during the pandemic and this Radisson was hit as hard as all the rest nationwide, this hotel is achieving great heights as never before. The seller will prove in due diligence that the cap rate will exceed 9%.
