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FM1385, Pilot Point, TX, USA

Gene McCutchin Acquires Land In Pilot Point From Ron Berlin & Eric Berlin
SOLD

Gene McCutchin Acquires Land In Pilot Point From Ron Berlin & Eric Berlin

FM1385, Pilot Point, TX, USA

Building Size

Asset Type

Closing

Jun 24, 2020

AI

Land located at FM 455 & FM 1385 in Pilot Point was recently sold in a closed transaction on 06/25/2020. The property was sold by Ron Berlin and Eric Berlin. The buyer of the land was Gene McCutchin.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: Not available
  • Address: FM 455 & FM 1385, Pilot Point
  • Market: Pilot Point

The seller of the property, Ron Berlin and Eric Berlin, were represented by Grant Brodeur from Davidson Bogel Real Estate’s. On the other hand, Ben McCutchin from Younger Partners represented the buyer, Gene McCutchin.

Players

Ben McCutchin

Broker

3 deals

Broker

Pilot Point 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93