Updated Dec 4, 2024
George Saleh Acquires Development Site In Houston From Michael Adamoli
7115 Fairview Street & 7119 Fairview Street
Building Size
4 SF
Asset Type
Development Site
Closing
Jun 26, 2024
About this deal
AI
The development site located at 7115-7119 Fairview Street in Houston spans 4.87 acres with a total building square footage of 209,959. The property was sold in a recent transaction.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not Disclosed
- Buyer: George Saleh - Saleh Brothers Investments
- Seller: Michael Adamoli - Northwoods Mobile Home Park
- Brokers: Brandon Alexander Wuntch & Drew Altmann - Cresa
Brandon Alexander Wuntch and Drew Altmann from Cresa represented the buyer and seller, George Saleh and Michael Adamoli, respectively, in the property transaction.
Players
Houston 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