Updated Oct 25, 2024
Nader Mezher Acquires Industrial Property In Midland, Texas For $1.1M
29 E Industrial Loop Midland, TX 79701, USA
$1,100,000
$84/SF
Building Size
13,000 SF
Asset Type
Industrial
Closing
Jul 26, 2023
About this deal
AI
The industrial property located at 29 East Industrial Loop in Midland, TX has been sold in a recent transaction. The property spans 13,000 square feet and was sold for a price of $1,100,000, resulting in a price per square foot of $85.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $1,100,000
- Address: 29 East Industrial Loop, Midland, TX
- Market: Midland, TX
- Buyer: Nader Mezher
- Seller: Kenneth Cook
- Square Footage: 13,000
- Price per Square Foot: $85
Nader Mezher, acting as the buyer, acquired the industrial property from Kenneth Cook. This transaction marks a significant purchase in Midland, TX's industrial market, further contributing to the city's real estate landscape.
Players
Texas Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93