Randy Smith's Weston Urban Acquires San Fernando Gym And Parking Lot In San Antonio
300 North Santa Rosa Street & 403 North Flores Street
Building Size
—
Asset Type
Commercial
Closing
Jan 16, 2024
AI
The San Fernando Gym and a parking lot in San Antonio have been sold in a recent transaction. The buyer, Randy Smith, who represents Weston Urban, closed the deal as part of a long-standing agreement between the city and Weston Urban to acquire surplus municipal properties for urban core development. The gym was priced at $950,000, while the parking lot was priced at $393,000. The specific terms of the deal have not been disclosed at this time.
Summary of transation details
- Property Type: Commercial & Parking Lot
- Transaction Amount: Not disclosed
- Buyer: Randy Smith - Weston Urban
- Date: 01/16/2024
- Address: 300 North Santa Rosa Street & 403 North Flores Street, San Antonio
- Market: San Antonio
Weston Urban, represented by Randy Smith, has successfully acquired the San Fernando Gym and accompanying parking lot in San Antonio. This purchase is part of their ongoing collaboration with the city to develop the urban core. The specific details and conditions surrounding the deal have not been made public at this time.
Players
San Antonio Commercial Market Snapshot
Boundary boundary · Commercial · 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