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326 West Jones Avenue, San ...

McCombs Family Partners Acquires 5.9 Acre Land In San Antonio For $29.5M
SOLD

McCombs Family Partners Acquires 5.9 Acre Land In San Antonio For $29.5M

326 West Jones Avenue, San Antonio, Texas 78215, United States

$29,500,000

Building Size

Asset Type

Closing

Jan 25, 2023

AI

The 5.9 acre land located at 326 W. Jones Ave in San Antonio has been sold in a recent transaction. The sale took place on January 25, 2023, with Asher Reilly being the broker involved in the deal. The property was purchased by McCombs Family Partners, represented by Marsha Shields and Harry Adams IV. The seller, CPS Energy, was represented by Milady Nazir. The sale price for the land was $29,500,000.

Summary of transaction details

  • Property Type: Land
  • Sale Price: $29,500,000
  • Address: 326 W. Jones Ave, San Antonio
  • Market: San Antonio
  • Buyer: McCombs Family Partners - Marsha Shields & Harry Adams IV
  • Seller: CPS Energy - Milady Nazir
  • Broker: Asher Reilly - CBRE

This transaction highlights the involvement of key individuals and companies. McCombs Family Partners, represented by Marsha Shields and Harry Adams IV, successfully acquired the 5.9 acre land from CPS Energy, represented by Milady Nazir. The deal was facilitated by broker Asher Reilly from CBRE.

Players

CE
CPS EnergySeller

San Antonio CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.54%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93