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Castle Hills Drive, The Col...

Domino's Franchisee Acquires Half Acre Site In Lewisville For New Location
SOLDDevelopment Site

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

Dan Looney

Bright Realty

Broker

6 deals

Broker
BR
Bright RealtySeller

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