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26119 Decker Prairie Rosehi...

Craig Jones Of Long Lake Acquires 95 Acres Development Site From Brautigam Family In Magnolia
SOLDDevelopment Site

Craig Jones Of Long Lake Acquires 95 Acres Development Site From Brautigam Family In Magnolia

26119 Decker Prairie Rosehill Road

Building Size

Asset Type

Development Site

Closing

Nov 25, 2024

AI

The property involves a development site located at 26119 Decker Prairie Rosehill Road in Magnolia, spanning 95 acres. The transaction took place on November 25, 2024. The site is positioned in Montgomery County and is considered a significant opportunity for potential residential development given its proximity to Tomball and Pinehurst.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: Not disclosed
  • Address: 26119 Decker Prairie Rosehill Road
  • Market: Magnolia
  • ACRES: 95
  • Buyer: Craig Jones - Long Lake
  • Seller: Brautigam Family
  • Broker: Tommy LeBlanc - MLB Commercial Real Estate

Craig Jones is representing Long Lake in this acquisition, while the Brautigam family has sold the property. Tommy LeBlanc of MLB Commercial Real Estate facilitated the transaction, indicating the involvement of a local broker in the deal.

Players

Tommy LeBlanc

MLB Commercial Real Estate

Broker

4 deals

Broker

Magnolia 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93