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2883 Old Chocolate Bayou Road

Javed Meghani And Aliakbar Meghani Acquire Development Site In Pearland From Shahrukh Ahmed And Hamza Ali
SOLDDevelopment Site

Javed Meghani And Aliakbar Meghani Acquire Development Site In Pearland From Shahrukh Ahmed And Hamza Ali

2883 Old Chocolate Bayou Road

Building Size

193,000 SF

Asset Type

Development Site

Closing

Feb 26, 2025

AI

The asset involved in the transaction is a development site located at 2883 Old Chocolate Bayou Road in Pearland. This property is positioned within a market that holds potential for development opportunities.

Summary of transaction details:

This transaction involves key individuals, including the buyers, Javed Meghani and Aliakbar Meghani, who represent Meghani Capital, acquiring the property from sellers Shahrukh Ahmed and Hamza Ali, representing Nextforce Capital. The deal was facilitated by Abdul Sabha and Tooba Patoli from Hunington Properties acting on behalf of the buyers, while Joshua Sabesta represented the sellers as part of S&P Interests.

Players

Abdul Sabha

Broker

3 deals

Broker

Pearland 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