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
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