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1977 Mayfield Place, Brentw...

Thomas James Homes, LLC Acquires Development Site In Brentwood For $2.5M
SOLDDevelopment Site

Thomas James Homes, LLC Acquires Development Site In Brentwood For $2.5M

1977 Mayfield Place, Brentwood, TN, USA

$2,475,000

$275/SF

Building Size

9,000 SF

Asset Type

Development Site

Closing

Apr 6, 2020

AI

A development site located at 11977 Mayfield Avenue in Brentwood has been sold. The property was purchased by Thomas James Homes, LLC from Georgia Qutami and Aristotle N. Qutami. The sale was facilitated by brokers Ryan Serling, Martin Agnew, Stuart Fagan, and Michelle Mandel from the Agnew Serling Group. The transaction took place on April 7, 2020, for a price of $2,475,000.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $2,475,000
  • Address: 11977 Mayfield Avenue
  • Market: Brentwood
  • Buyer: Thomas James Homes, LLC
  • Seller: Georgia Qutami & Aristotle N. Qutami
  • Brokers: Ryan Serling, Martin Agnew, Stuart Fagan, Michelle Mandel from the Agnew Serling Group
  • BSF (Building Square Footage): 9,000
  • PPBSF (Price Per Building Square Foot): $275.00

Ryan Serling, Martin Agnew, Stuart Fagan, and Michelle Mandel from the Agnew Serling Group were the brokers who represented the buyer, Thomas James Homes, LLC, in this transaction. The development site, with a building square footage of 9,000, was sold for $2,475,000 at a price per building square foot of $275.00.

Players

Martin Agnew

Marcus & Millichap

Broker

$450M

vol

123 deals

Broker

Thomas James

Thomas James Homes

Buyer

$118M

vol

5 deals

Buyer

Brentwood 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

6.41%

Cash-on-Cash

-1.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93