Updated Oct 29, 2024
Cornerstone Apartments' Industrial Property Sold In Midland/Odessa With Michael Kelleher & Jeffery Miller - Matthews Real Estate Investment Services
3902 S County Rd 1286 Odessa, TX 79765, USA
Building Size
93,006 SF
Asset Type
Industrial
Closing
Jun 30, 2023
About this deal
AI
Cornerstone Apartments has completed the sale of an industrial property located at 3902 South County Road 1286 in Midland/Odessa. The property, spanning 93,000 square feet, was sold on June 30, 2023.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 3902 South County Road 1286
- Market: Midland/Odessa
- Seller: Cornerstone Apartments
- Brokers: Michael Kelleher & Jeffery Miller - Matthews Real Estate Investment Services
The sale of the industrial property was facilitated by Michael Kelleher and Jeffery Miller from Matthews Real Estate Investment Services. They represented the seller, Cornerstone Apartments, in this transaction.
Players
Market 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93