Pulte Homes Acquires Development Site In Charlotte, NC For $3.25M
9363 Lawing School Road, Charlotte, North Carolina 28214, United States
$3,250,000
Building Size
—
Asset Type
Development Site
Closing
May 3, 2022
AI
A development site spanning 23 acres in Charlotte, NC has been sold for $3,250,000. The property, located at 9363 Lawing School Rd., was acquired by Pulte Homes. The transaction took place on 05/04/2022.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $3,250,000
- Address: 9363 Lawing School Rd.
- Market: Charlotte, NC
- Buyer: Pulte Homes
- Seller: Northway Homes & Wickenden Partners - Cyrus Mojdehi & Danny Hirschberg
- Broker: Jay Royster - Royster Commercial Real Estate
Cyrus Mojdehi and Danny Hirschberg from Northway Homes & Wickenden Partners represented the seller in the deal, while Jay Royster from Royster Commercial Real Estate acted as the broker.
Players
Charlotte Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93