Nikhil Patel Purchases 8 Acre Development Site In Celina From Mark Smith Of Horizon Celina Partners
County Road 9
Building Size
387,684 SF
Asset Type
Development Site
Closing
Oct 3, 2024
AI
The transaction involves the sale of an 8+ acre development site located on County Road 9 in the market of Celina, Texas. This site is situated within the larger master-planned community of Legacy Hills.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not disclosed
- Address: County Road 9
- Market: Celina
- Buyer: Nikhil Patel
- Seller: Mark Smith - Horizon Celina Partners
- Buyer's Representative: Darrell Rodgers - JPAR
- Seller's Representative: Chris Janowski - Duwest Realty
DuWest Realty represented the seller in this transaction involving the development site. The deal showcases the collaboration between experienced representatives in navigating the complexities of commercial real estate transactions.
Players
Celina 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