Troy Marcus Purchases Industrial Asset At 1205 Reed Drive From Steven Victor
SOLD
$7,700,000
Texas
See Similar DealsIndustrial283,332 SF
Sold 10/31/2024
SOLD
Troy Marcus Purchases Industrial Asset At 1205 Reed Drive From Steven Victor
1205 Reed Drive
See Similar DealsIndustrial283,332 SF
Sold 10/31/2024
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$27
Total Square Footage:283,332 SF
Transaction Type:Sale
The property asset involved in this transaction is an industrial facility located at 1205 Reed Drive in the Lockhart market, encompassing a total square footage of 283,332. This asset is noted for its suitability for various industrial uses.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Buyer: Troy Marcus
- Seller: Steven Victor
- Brokers: Jeffery Miller & Michael Kelleher - Matthews Real Estate Investment Services
- Transaction Date: 10/31/2024
Key individuals involved in the deal include Troy Marcus, who represented the buyer, and Steven Victor, who represented the seller. The transaction was facilitated by brokers Jeffery Miller and Michael Kelleher from Matthews Real Estate Investment Services, bringing their expertise to the negotiation of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$410,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,356.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,501.93
Annual Debt Service$438,023.14
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