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.
On the Map
Development Site
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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