Domino's Franchisee Acquires Half Acre Site In Lewisville For New Location
Castle Hills Drive, The Colony, TX, USA
Building Size
1,950 SF
Asset Type
Development Site
Closing
Jan 31, 2021
AI
A half acre padsite at the SWC of State Highway 121 and Castle Hills Dr in Lewisville has been sold to a Domino's franchisee. The buyer plans to build a new 1,950 square foot Domino's location on the site. The padsite is located on the western edge of Bright Realty's Realm at Castle Hills, a 324-acre mixed-use development. The development is currently undergoing various residential and commercial projects, with more to come in the future.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: SWC State Highway 121 & Castle Hills Dr
- Market: Lewisville
The seller of the padsite was Bright Realty, represented by Dan Looney and Britton Lankford. On the buyer's side, the transaction was facilitated by Tim McNutt of DBA Real Estate.
Players
The Colony 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